GE Energy Financial Services announced that it had invested INR257 crore or US$43.2 million through a share subscription deal for an undisclosed stake in Gati Infrastructure Ltd. GE Energy Financial Services is an investment arm of General Electric, an American multinational conglomerate.
Gati Infrastructure centers its operations on renewable energy. The energy supplier has a portfolio of coal, solar, and hydro projects. Gati Infrastructure is supported by River Valley Hydro Venture Pte Ltd, a venture capitalist that invested US$6.96 million in the energy enterprise in 2007.
Gati Infrastructure is run by Amrit Jal Ventures Ltd and Mahendra Agarwal who functions as Gati's chief executive. Mr. Agarwal is also founder of his firm. Amrit Jal Ventures operates special purpose investment vehicles with at least three hydro-electric power initiatives under construction in Sikkim. "Sikkim is a growing economy in the North East with average rainfall higher than in several other Himalayan states. With glacial melt and the perennial rivers, Sikkim has a peak potential capacity of 8k MW of hydro-electric power," Mr. Agarwal said.
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