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<p><a href="https://www.temasek.com.sg/en/index.html" target="_blank" rel="noopener noreferrer">Temasek</a>, a Singapore-based Holdings company, has partnered with <a href="https://www.eqtgroup.com/" target="_blank" rel="noopener noreferrer">EQT</a>, a Swedish private equity company, to launch a renewable energy platform in India.</p>
<p>The platform, called 02 Power, aims to construct wind and solar projects in the country. The companies have allocated an initial equity commitment of $500 million (~₹35.34 billion) as the seed capital for this joint venture (JV).</p>
<p>This joint venture marks the companies’ first foray into the country.</p>
<p>Temasek is a global investment company headquartered in Singapore with a portfolio of operations in financial services, telecommunications, media, technology, real estate, transportation, industrials, life sciences, and agribusiness, as well as energy and resources.</p>
<p>EQT is a global investment organization that manages and advises investment funds across the world.</p>
<p>Back in 2017, Temasek partnered with EQT to expand its presence into Asia, particularly in Southeast Asia, India, Korea, Japan, New Zealand, and Australia to look for investment opportunities in communications, transportation, energy, and social infrastructure.</p>
<p>However, this is not the first joint venture by overseas corporations aimed at building the country’s renewable energy infrastructure.</p>
<p>In September 2018, Mercom <a href="https://mercomindia.com/engie-stoa-jv-wind-india/" target="_blank" rel="noopener noreferrer">reported</a> that in a similar deal, ENGIE, a global independent power producer, and STOA, a French infrastructure and investment firm, announced a joint venture to build wind projects in India, aiming to establish over 2 GW of wind energy capacity over five years.</p>
<p>Previously, global renewable energy development firm Lightsource BP and investment firm Everstone Group <a href="https://mercomindia.com/lightsourcebp-everstone-joint-venture-india/" target="_blank" rel="noopener noreferrer">teamed</a> up to create a major fund management platform called EverSource Capital for the development of green energy infrastructure in India with a fundraising target of £500 million (~₹45.49 billion).</p>
<p>Image credit: Tucson Electric Power</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nithin-thomas-prasad/" class="vcard author" rel="author"><span class="fn">Nithin Thomas</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Nithin Thomas,</strong> Staff reporter at Mercom India<br />
<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" target="_blank" rel="noopener">More articles from Nithin Thomas.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="102" height="102" /><a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">Nithin Thomas</a> is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor&#8217;s Degree in Commerce from Loyola College, Chennai.<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">More articles from Nithin Thomas Prasad</a></div>
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Singapore’s Temasek Partners with Swedish EQT to Build Solar & Wind Farms in India

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