EQT Infrastructure and Singaporean holding company Temasek have launched a $500 million renewable energy platform, targeting more than 4 gigawatts of installed solar and wind capacity in India.
The deal marks EQT’s first investment in India.
O2 Power will focus on developing utility-scale renewable projects across solar, wind and hybrid with good quality off-takers via both greenfield project development and mergers and acquisitions, according to a joint statement by the companies.
The platform will be led by Parag Sharma serving as CEO, and a team with a proven track record of executing renewable energy projects in India.
With the deal, EQT Infrastructure IV is expected to be 60-65 percent invested.