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New Delhi, June 9

Axis Private Equity and IL&FS Financial Services Ltd on Tuesday announced an investment of Rs 90 crore ($18 million) in Shalivahana Green Energy Ltd. While Axis PE has invested Rs 54 crore, IL&FS Financial Services will invest Rs 36 crore. SGEL is a renewable energy firm with focus on development and operation of biomass and small hydro power projects. SGEL currently has four operational projects with an aggregate capacity of 35 MW. With this fresh round of funding , SGEL hopes to expand its capacity to 250 MW. This is Axis PE’s fifth investment following previous investments aggregating Rs 320 crore in areas such as water supply and sanitation, laying oil and gas pipelines, railway EPC and hospitality sectors. Axis PE had announced first close of its Axis Infrastructure Fund at Rs 600 crore last year. The fund is looking at a final close of Rs 2,000 crore. —

Our Bureau

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