Soham Renewable Energy India (SREIPL), a Bangalore-based company involved in power generation in the renewable sector is close to raising Rs 90 crore from FE Clean Energy, a private equity firm investing in mid-market energy efficiency space. The company expects the process to be completed by the end of January 2010.
The equity fund had earlier invested in the company at a project level. It had earlier infused equity into Ambuthirtha Power Pvt Ltd, a 22MW hydro power project of Soham Group.
The company plans to acquire companies to have pan-India footprint. It targets partially completed projects of 10MW-25MW capacities. Its area of preference includes Uttaranchal, Himachal Pradesh, Sikkim, Maharastra, Madhya Pradesh, Meghalaya and Arunachal Pradesh. It is also looking at possibilities to expand in Sri Lanka.
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