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Showing posts with the label Abraaj Group

Aditya Birla Group ropes in PE firm Abraaj Group for solar power venture

This cooperation will give a fillip to the Aditya Birla Group's renewable energy initiatives and help Abraaj to explore one of the world's biggest energy consumption markets The  Aditya Birla Group  has announced a partnership with The  Abraaj  Group, a leading investor operating in global growth markets, to build a large scale  renewable energy platform focused on developing utility-scale  solar power plants in India. The Aditya Birla Group will invest in the platform through  Aditya Birla Nuvo  Limited (ABNL) and Abraaj will invest through one of its affiliates. Partnership with Abraaj Group in culmination of the strategy announced by Aditya Birla Nuvo in July 2015 to foray into  solar energy  market, through a special purpose vehicle (SPV) or subsidiary, by bidding for upcoming solar power projects of government as well as private sector. ALSO READ :  Aditya Birla Nuvo joins the solar energy bandwagon As per the agreement, ABNL and the Abraaj