AMP Capital picks up Indian infrastructure stake

financial services group

14 June 2012
| By Staff |
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A key AMP Capital division - the AMP Capital Asian Giants Infrastructure Fund (AGIF) - has acquired a significant minority stake in a leading Indian clean energy company.

AMP Capital has announced that the AMP Capital Asian Giants Infrastructure Fund has acquired the stake in Shalivahana Green Energy Limited (SGEL) for almost US$29 million.

Based in Hyderabad, India, SGEL develops, owns and operates a portfolio of power generation assets across the agri-waste, hydro and wind sectors.

Commenting on the move, AMP Capital's head of infrastructure Asia Anoop Seth said SGEL had a unique portfolio featuring both geographical and fuel diversification, positioning it as a leading renewable energy company in India.

As part of AMP Capital's investment in SGEL, two members of AMP Capital's investment team will join the SGEL board.

Existing investors in SGEL include International Finance Corporation and Infrastructure Leasing and Financial Services Group, India's leading infrastructure player.

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