Equis to invest $1 billion to double India renewables portfolio.

Equis Pte Ltd, a Singapore-based infrastructure investor, plans to pump $1 billion into Indian renewables in the next two years, doubling its portfolio to nearly two gigawatts of wind, solar and hydro energy installations, Chief Executive Officer David Russell said.

'It would be our expectation to double our current position within the next 24 months,' Russell said in a phone interview from Singapore.

Equis, a $2.7 billion fund, has 3.6 gigawatts of combined renewable energy capacity in India, Japan, the Philippines and Thailand.

The asset developer has approved equity commitments of $630 million to India in the last four years.

'We should be looking to invest another $1 billion into the Indian renewable energy market and we think that's very feasible considering our position,' Russell said.

Equis has financed 737 megawatts of Indian renewables, with 300 megawatts under development.

The company commissioned a 108-megawatt wind project in the central Indian state of Madhya Pradesh at an investment of $131 million this month.


ET