Regen Powertech gets Rs 52 crore
May 02 2012, 11:00 | By SME Mentor
Regen Powertech will use the funds for expanding manufacturing capacit at its Udaipur plant.
Image: Regen Powertech
First on SME Mentor
Regen Powertech, a Chennai-based wind turbine manufacturer, promoted by the Nuziveedu Seeds Group received Rs 52 crore from TVS Capital and existing investor, Summit FVCI. The funds will be used for expanding its manufacturing capacity at its Udaipur plant, as well as for project development.
Regen Powertech has a strategic alliance with Vensys Energy AG and sells its wind turbines under a licence from and under the brand name of Vensys. Regen also provides turnkey solutions for wind power projects that include a consultancy, manufacturing, supply, erection, commissioning, operations and maintenance services of wind turbines. It manufactures gearless 1500 KW wind power generators and is currently executing orders for 50 MW projects for Tata Power, Compsgreen Infra, Bhilwara Group, a 100 MW project for New Power and Gail, and a 25 MW project for TVS Energy.
Everstone Capital invested $26.60 million in Regen Powertech through its maiden fun - Indivision India Partners - in October 2007. Prior to this deal, Nuziveedu held 42 percent in the company, while Madhusudhan Khemka and R Sundaresh owned 21.5 percent, while Everstone Capital owned close to 35 percent stake in the company.
Post Your Comment
Recent Comments (0)