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Rabo India to partner Swiss co for $30m equity fund
By siliconindia
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Monday, 06 October 2003, 19:30 IST
MUMBAI: Rabo India Finance, a 100% subsidiary of Rabobank International, plans to set up a $30-m private equity fund dedicated to renewable energy projects in the country.
BTS, a Swiss government affiliated entity, would be partnering Rabo in the venture.
The $30-m corpus will fund 7-8 projects to generate power from diverse renewable energy sources including, wind, hydro, biomass and solar.
Rabo foresees tremendous growth in food and agribusiness sector in India and it intends focusing on urban and rural renewal climate products including carbon credits, sustainable water and asset management. Rabo is in the process of setting up a separate dedicated entity on India focusing on rural agri-advisory services. This entity will aim to facilitate growth in the agricultural sector in India.
Rabo India and European Investment Bank today signed an agreement for a global loan facility. This facility would entail EIB making available up to $50m to Rabo India to provide financial assistance to Indian companies that have strong EU interests in the form of joint ventures/ subsidiary operations.
(Source: Economic Times)