Latest Atria Brindavan Power News
Jun 13, 2013
Private Equity | 13 June 2013 BanyanTree Growth Capital Invests In Atria Brindavan Power by Charmi Gutka @Charmi BanyanTree Growth Capital ("BTGC") II LLC has invested R500 Mn in Atria Brindavan Power Limited ("ABPL"), a Bangalore-based renewable power generation company. ABPL set up in 2000 by the Atria group, focuses on Small Hydel Power ("SHP") plants and has demonstrated a strong track record of constructing SHP projects. BanyanTree will have a board representation. Mumbai-based Cipher Capital was the sole advisor to the transaction. It is one of the premier SHP developers in the country with an operating portfolio of over 46 MW in hydro assets with plans to add wind and solar energy projects to the portfolio. The proposed investment will enable Atria to further augment its generating capacity. The deal marks BTGC’s second investment in the current year from its second Fund. BTGC II has been one of the few funds to have raised capital in a challenging environment and announced its 2nd close at just under $ 150 Mn in January 2013. BTGC I is fully invested in 9 companies and has started returning money to investors.