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AMP's Asia infrastructure fund invests in green energy
AMP Capital’s US$161 million Asian Giants Infrastructure Fund (AGIF) has invested almost $29 million in clean energy company Shalivahana Green Energy Limited (SGEL) based in Hyderabad, India.
The company develops, owns and operates a portfolio of power generation assets spanning the agri-waste, hydro and wind sectors.
AMP will join the likes of the International Finance Corporation and Infrastructure Leasing and Financial Services Group, India, in investing in the portfolio that has both geographical and fuel diversification.
AMP Capital head of infrastructure Asia Anoop Seth said unique diversification was a factor that made SGEL one of India’s leading renewable energy companies.
Seth said a favourable regulatory environment had seen India’s total renewable energy capacity increase four-fold since 2002.
As part of the investment, two members of AMP’s investment team will join the SGEL board.
AGIF also invests in transportation, energy and utilities, telecommunications and urban infrastructure in India and China.
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