NEEV Fund invests in Punjab Renewable Energy Systems

India produces over 145 million tonnes of surplus biomass every year, which is usually burnt in the fields resulting in major air pollution

Neev Fund, backed by SBICAP and UK Government’s Department for International Development (DFID), has announced a private equity investment of US$ 5 Million in Punjab Renewable Energy Systems Pvt. Ltd. (PRESPL). Intellecap served as the investment banker for the deal.

The investment will be utilised by PRESPL for business expansion in underdeveloped states and regions of the country in the area of biomass supply chain to enable safe and sustainable environment.

Punjab Renewable Energy Systems Pvt Ltd (PRESPL) is an end-to-end biomass value chain management company involved in collection, processing, storage and supply of biomass (agri- residues) such as paddy straw, cotton-stalk,