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FINANCIAL NEWS
Abraaj Group, Aditya Birla sign energy partnership in India
11 Oct 2015
(MENAFN) Dubai’s Abraaj Group and the Aditya Birla Group have announced signing a partnership to build a gigawatt scale renewable energy platform focused on developing solar power plants in India.
Abraaj will invest in the platform through one of its Funds and the Aditya Birla Group will invest through Aditya Birla Nuvo Limited, the USD41 billion private equity firm said in a statement.
The partnership comes as a time when the demand for power in India is growing as a result of the country’s expanding population, increasing urbanization and related economic activities.
Abraaj Group said it has comprehensive investment experience across the energy value chain and has invested USD1 billion in 10 investments in global growth markets.
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