Old Lane Mauritius III Limited, an investment vehicle of Old Lane India Opportunities Funds, has invested $26 million (around Rs 104 crore) in Hyderabad-based KVK Energy's flagship company "" KVK Energy and Infrastructure Private Limited. | |
| The investment by Old Lane in KVK Energy and Infrastructure will primarily help fund the latter's projects including the 1,200Mw KVK Nilachal power project in Orissa, a project being monitored by the Inter Institutional Group (IIG) set up by the ministry of power, and the 120Mw SV power project in Chhattisgarh. |
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| KVK Group, operating across conventional as well as renewable sources such as natural gas, LSHS, coal, biomass and hydro power, currently owns stakes in 9 power generation projects spread across 6 states. |
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| The Old Lane India Opportunities Funds were established in July 2006, and are sized at $518 million with a 10-year life. These funds are dedicated for long-term investment opportunities in India, primarily in the infrastructure and real estate sectors. |
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| "This large investment from Old Lane represents the successful culmination of over a decade of KVK Energy's efforts to develop a diversified portfolio of power assets. KVK Energy also has plans to go for listing at reputed overseas stock exchanges to raise resources to fund immediate growth opportunities in the sector," K Vijaya Kumar, chairman, KVK Energy and Infrastructure. |
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