Harrisburg, PA, Feb.14, 2017- Petron Group LLP. http://petron-group.com/ (“Petron”), a leading private equity firm specializing in renewable energy, and (“PLG” or the “Company”), a South Asian developer, and owner of solar parks, today announced a new strategic partnership to fund solar projects in South Asia with a total capital commitment from Petron Group of 215 Million dollars.
As part of this partnership, Petron will invest $165 million in the construction of approximately 170 megawatts AC of solar projects in South India.Petron has allocated an additional $50 million for secondary market opportunities in Nigeria and Cameroon, subject to due diligence and other necessary approvals. Beyond this capital commitment, both parties have agreed in principle to collaborate on identifying and acquiring suitable renewable Energy assets..
“We are delighted to be working with a leading specialized private equity fund that has in depth experience in the renewable submarket,” said Kiran Patil, MD of PLG (BS Group Company) “We believe PLG will benefit from Petron’s long tenure as an investor in the renewable energy sector and unmatched industry experience in this strategic partnership.”
“We are excited about our partnership with PLG, a company with deep power development expertise throughout South Asia,” said Isaac Udotong, Managing Partner of Petron Group. “They have developed a portfolio of high-quality assets in India, and we expect to see tremendous growth in this region over the next couple years, So this is an excellent addition to our portfolios.”
About PLG Clean Energy
PLG is a global independent power producer (“IPP”) that develops, owns and operates solar parks and generates revenue primarily by selling electricity. Since its inception, PLG has focused on the downstream solar markets in South asia. PLG selects geographies with highly attractive solar radiation, regulatory environments, power pricing, land availability, financial access and overall power market trends. As a result of its focus on the downstream photovoltaic segment, PLG is technology agnostic and is able to customize its solar parks based on local environmental and regulatory requirements.
About Petron Group
Petron Group is a Green Certified private equity and infrastructure firm dedicated exclusively to investing in renewable power and clean energy Globally. The USA-based firm was founded to make privately negotiated investments in infrastructure platforms, focused on the development, construction and operation of power plants, direct investments in power projects, as well as investments in the high-growth, asset-based, capital intensive segments of value chain companies that have manufacturing or servicing business. Petron’s investment expertise spans across a variety of subsectors within the renewable energy industry including, solar and wind energy, biofuels, biomass, geothermal energy, energy efficiency and storage.
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