Kalyani Group in strategic tie-up with First Reserve CorpApril 8th, 2008 - 7:06 pm ICT by admin
Mumbai April 8 (IANS) Auto component major Kalyani Group has made US-based energy-focussed private equity firm First Reserve Corp a strategic (FRC) investor in its wind energy business. Announcing this here, the Pune-based $2.1 billion Kalyani Group said FRC would invest in its newly formed wind energy company, Kenersys.
Kenersys’ prime focus would be on designing, assembling and marketing wind turbine generators, said an official statement.
FRC, one of the world’s leading private equity firms in the energy industry, has an active investment programme in the renewable energy sector with the investment in seven companies, specialised in biofuels, waste, CO2 offset origination and renewable generation and solar and wind power.
FRC has made over $1.2 billion investment in alternatives and renewable companies.
Kalyani Group chairman B.N. Kalyani said the strategic tie-up with FRC would give a boost to the wind energy business sector in the country.
“Kalyani Group, including Bharat Forge, has recently utilised these relationships in the manufacturing of turbine sub-components. Now Kenersys will utilise these skills, in the designing and developing of wind energy turbine manufacturing sectors,” he said in the statement.
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