ENERGON HOLDINGS
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Energeq Holdings (Energon) is a developer, owner and operator or wind energy assets in India. The company is managed by Equis Funds Group. FMO has committed US$25 mln to Energon, with total commitments amounting to US$150 mln.
What is our funding objective?
Energon has been set up to grow into a wind energy generating platform with a significant growth pipeline and a strong management team. Energon is focused on southern and western India, which are rich in renewable resources, have favorable regulatory frameworks and have a significant demand-supply gap. Energon has a hands-on approach to executing and monitoring projects, with the aim of ensuring optimal performance on both the technology and renewable resource sides. Energon currently has one 54MW project operational in Andhra Pradesh. With the help of FMO's equity investment, Energon plans to have an operating portfolio of 300-500MW of high-quality renewable energy assets across India in the next 3-5 years..
Why do we fund this investment?
Energon will be in a position to invest in a number of wind opportunities in India, as a result of the combination of a strong capital base and a team with knowledge and experience in the sector. For FMO, Energon presents an opportunity to increase impact and reduce footprint by investing in the construction and commissioning of renewable energy assets in Asia. See www.energonindia.com for more information.
- Region
- Asia
- Country
- India
- Sector
- Energy
- Effective date
- 6/27/2014
- End date
- 1/13/2022
- Total FMO financing
- USD 25.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A