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.

Roads platform (Athaang Infrastructure)

NIIF has identified roads as one of the key sectors to invest and plans to pursue the opportunities in the sector through its roads platform. NIIF has incubated its proprietary roads platform, Athaang Infrastructure private limited, to implement the road strategy of NIIF. The platform is already operational with a strong team consisting of road sector experts from investment diligence, technical, operations and asset management functions. Athaang would be instrumental in creating a portfolio of mature operational assets with diverse mix of BOT-Toll, BOT – Annuity & Hybrid Annuity assets, large size expressways and roads with greenfield and brownfield expansion requirements. Athaang would operate and manage these assets with best systems and practices along with high standards of governance, and achieve operational excellence and value for investors.

NIIF road portfolio includes Devanahalli Tollway and Dichpally Tollway.

  • Devanhalli Tollway is a strategic arterial 22 km six lane toll road in the state of Karnataka, connecting Bengaluru city and its airport. The road, part of NH44 (erstwhile NH7), with an operational history of over six years, is well poised to cater to the growing needs of Bengaluru City and the Airport and will benefit from the growth potential of Bengaluru as a metropolitan.
  • Dichpally Tollway is a 60 km four lane toll road in the state of Telangana. A mature asset, operational for over seven years, this road is an important link between two key industrial hubs, Hyderabad and Nagpur and serves long distance commercial traffic.