Barclays Bank PLC Appointed as the Financial Advisory for Leap Greens Energy

By SiliconIndia   |   Thursday, October 25, 2018
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Leap Greens Energy, an independent power producing company appointed Barclays Bank as financial advisors for their next equity raise. With an aim to install capacity of above 3GW by FY2020, Leap Greens Energy is currently at operational capacity of 751 MW of operational wind assets and 400 MW of under construction wind assets.

Commenting on this occasion, Rajeev Karthikeyan, Founder & MD, Leap Greens Energy, says, “We have seen a very encouraging growth trajectory for Leap Green Energy since inception. With less than USD 120 mn invested, the company has already created an operating capacity of over 750 MW making it one of the most efficient users of capital and built assets. We are keen to further enhance this growth to reach our target of over 3 MW power generation in the next two years. For this we found Barclays PLC to be our apt financial expert partners to raise our next round of equity”.

With India being the fourth largest wind power installed capacity nation in the world, the power generation has significantly increased in the recent years. The company plans to raise $250 million for the fund requirement of expansion and will be pursued across both greenfield and brownfield opportunities in power generation. Along with that, Leap Greens Energy will also pursue opportunities in energy storage, repowering, offshore wind energy harnessing among others.

Headquartered in 2010, Leap Greens Energy is an independent power producer and spreads across six states in India. It uses advanced AI enabled platforms to monitor assets Real time and is a pioneer in the wind forecasting in the wind forecasting initiatives. LGE currently operates in Madhya Pradesh, Rajasthan, Tamil Nadu, Maharashtra and Gujarat and plans to enter more states.

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