Leap Greens Energy Pvt Ltd appoints Barclays Bank PLC as financial advisory for USD 250 mn equity raise
Mumbai: Leap Greens Energy Pvt Ltd (LGE), is an independent power producing company with a focus on wind and other renewal energy sources. The company has appointed Barclays Bank PLC as financial advisors for their next equity raise.
Leap Green Energy is targeting to have an installed capacity of above 3 GW by FY2020. They are currently at operational capacity of 751 MW of operational wind assets and 400 MW of under construction wind assets.
To meet the fund requirements of expansion, they plan to raise close to USD 250 million as primary capital. This will be pursued across both green field and brownfield opportunities for growth within the renewable energy space. Apart from opportunities in power generation, Leap Green Energy will also pursue opportunities in energy storage, repowering, offshore wind energy harnessing among others.
“We have seen a very encouraging growth trajectory for Leap Green Energy since inception. With less than USD 120 mn invested, the company has already created an operating capacity of over 750 MW making it one of the most efficient users of capital and built assets. We are keen to further enhance this growth to reach our target of over 3 MW power generation in the next two years. For this we found Barclays PLC to be our apt financial expert partners to raise our next round of equity.” Said by Mr Rajeev Karthikeyan is the founder and MD of Leap Green Energy.
The company reported revenue INR 525 Crore generated in the FY 2017-18. Currently, Leap Green Energy operates in Madhya Pradesh, Rajasthan, Tamil Nadu, Maharashtra and Gujarat and plans to enter more states. LGE has been providing State-wise forecasting for Tamil Nadu and it works closely with Wind Power Associations and Industry bodies along with Tamil Nadu Electricity Generation and Distribution.
In-terms of wind power installed capacity, India is ranked 4th in the World. The wind power generation has significantly increased in the recent years, today India is a major player in the global wind energy market. The current total installed wind power capacity is 34.293GW and is going to expand to 60GW by FY 2022.
About Leap Greens Energy Pvt. Ltd.:
Leap Green Energy Pvt. Ltd., established in 2010 is a fast growing, Independent Power Producer (IPP) dedicated to generating energy using renewable Resources. Leap green energy’s assets are spread across 6 states in India and its customers are well diversified between various Indian state Utilities and the private sector. Leap Green Energy uses advanced AI enabled platforms to monitor assets Real time and is a Pioneer in the wind forecasting initiatives in the country. They assists State Utilities and Industry associations to fully utilize and harness renewable energy with high prediction accuracy. They are also the market leader in the private sector and has a well-diversified customer base of over 200 corporates spread across completely different sectors ranging from Hospitality, IT parks to textile factories.