Renewable Energy Platform (Ayana)

By investing in Ayana, the Master Fund has implemented its strategy to enter the clean-energy sector alongside like-minded investors with complimentary skill sets, backed by an experienced team in the renewables sector. Ayana Renewable Energy was launched to develop utility scale solar and wind generation projects across growth states in India. With a management team that has a track record of successful execution of renewable energy projects, Ayana is well placed to play an important role in India’s ambition to build 175 GW of renewable energy capacity. Ayana India is currently implementing four utility scale solar PV projects won under solar auctions, having an aggregate capacity of 1,100 MW, with ambitions to further scale up generation capacity.

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Ports and Logistics Platform (HIPL)

In line with its strategy to set up platform companies in partnership with leading strategic operators, the Master Fund has formed a ports and logistics platform, Hindustan Infralog Private Limited (HIPL), in partnership with DP World. DP World is amongst the largest container terminal operators globally and the largest player (by volume) in the Indian container terminal market. HIPL seeks to invest up to USD 3 billion of equity across the entire ports and logistics value chain. In a short span of time, HIPL has become one of the top 3 players in the Indian inland logistics space with acquisitions of a controlling stake in Continental Warehousing Corporation (CWC) and KRIBHCO Rail Infrastructure Limited (KRIL).

Smart Meters Platform (IntelliSmart)

NIIF and Energy Efficiency Services Limited (EESL) have created a Joint Venture, IntelliSmart Infrastructure Private Limited (“IntelliSmart”) to implement, finance and operate the smart meter roll-out program of power distribution companies. EESL leads the energy efficiency movement in India, implementing the world’s largest energy efficiency portfolio across sectors like lighting, buildings, electric mobility, smart metering and agriculture and helping save over 47 billion kWh of energy annually. Smart meters will lay the foundation for smart grids which will be crucial to meet challenges of the evolving energy mix and the Government of India’s target of providing uninterrupted 24×7 power supply to every Indian. Leveraging its extensive experience with smart meters technology, EESL has already secured contracts for IntelliSmart to install and maintain over 10 million smart meters across various state distribution companies, with an aim to capture a larger market share over time.