Solar power is hot around the world right now, and interested parties are looking for smart ways to invest. That’s good news for the industry, especially for developers who are able to attract the interest and funding of private equity investors. One such developer is Amplus Energy Solutions, a solar power project developer that offers rooftop solar options in India. This week infrastructure investment firm I Squared Capital announced that it will be investing $150 million in the growth of the solar company.
According to reports, Amplus aims to use this expand its operations in India, where the government has plans to drastically increase solar projects. In a statement to the press made earlier this week, Amplus CEO Sanjeev Aggarwal commented on the benefits that this investment from I Squared Capital will grant to the company’s solar goals:
Gautam Bhandari, partner at I Squared Capital, also weighed in on the equity firm’s investment in Amplus and the green energy potential it is bringing to Southeast Asia:
India’s government currently has plans to reach 40 GW of rooftop-based solar power by 2020. With investments like this, those are plans that can be achieved.