| | AUGUST 20258In a new contract between the two businesses, Nxtra by Airtel announced that it will purchase an extra 125.65 megawatts of renewable energy from Ampin Energy.With this, the two businesses' overall renewable energy partnership has surpassed 200 megawatts.The business had already inked two agreements with Ampin to source about 75 MW of renewable energy.Through captive solar-wind power projects in Rajasthan and Karnataka, respectively, Nxtra will receive the additional capacity in two stages.Through intra-state, open access systems in Uttar Pradesh, Maharashtra, and Odisha, Ampin has been providing solar power to Nxtra.Along with innovative technologies including seamless renewable energy supply from a single Independent Power Producer (IPP) and large-scale ISTS renewable energy supply, this new agreement will expand AMPIN to include 11 additional states.In June 2024, Nxtra pledged to get all of its electricity from renewable sources when it joined the global RE100 movement.Bharti Airtel also purchased shares in two renewable energy initiatives to support Nxtra, its data center business.The company declared that it will buy 23,000 MWh of renewable energy for Nxtra by Q4 FY 23-24.Six of Nxtra's Edge data center facilities will be powered by renewable energy projects that Airtel will purchase shares in from Continuum Green India Pvt. Ltd. and Vibrant Energy Holdings Pte. Ltd. There was no disclosure of detailed project details. Through a "open access route," Airtel will purchase a portion of Continuum Green, a project firm that will provide green electricity from wind and solar projects to its Edge data centers in Madhya Pradesh.In order to supply solar electricity to its Edge data center in Vijayawada, Airtel has also engaged into a similar stake acquisition deal with a Vibrant Energy project firm. Currently, Nxtra runs 120 Edge facilities, also known as Points-of-Presence, and 12 data centers in India. It has a 200MW area and more than 36,000 racks. More than 110MW of solar projects have been created in India by Vibrant Energy. ATN, Blueleaf Energy, and Macquarie are among the company's investors. It already has Power Purchase Agreements with Sify and Amazon. AIRTEL'S NXTRA RAISES RENEWABLE ENERGY SOURCING DEAL WITH AMPININ FOCUSFormer Unilever executive Vikram Kumaraswamy has been named a partner and co-head of the private equity firm L Catterton's India unit.As the company doubles down on one of Asia's fastest-growing consumer markets, he will serve as the company's leader alongside Anjana Sasidharan and Sanjiv Mehta, executive chairman for India.LVMH Moët Hennessy Louis Vuitton, the largest luxury group in the world and the parent company of Dom Pérignon, Sephora, and Louis Vuitton, supports the company.The first such country-specific fund in L Catterton's worldwide portfolio was a $600 million fund that was introduced in May specifically for India.The International Finance Corporation (IFC) is supporting the fund with a $30 million commitment and the possibility of another $30 million co-investment.This fund comes after former Hindustan Unilever (HUL) CEO Sanjiv Mehta and L Catterton formed a joint venture in March 2024. Mehta and the company will divide the investment, and the joint venture will contribute five percent of the total fund size."Vikram is a widely respected investor and operator with deep roots in India and vast experience across the world," says Sanjiv."L Catterton Executive Chair and Co-Founder Michael Chu and I have known him for many years and have consistently been impressed by his business acumen and high calibre steering of strategic initiatives," adds Sanjiv.The fund would focus on seven to nine mid-market investments in consumer categories like restaurants, branded retail, healthcare-led services, and food and beverage. The size of the deals will vary from $25 million to $150 million.At Unilever, Kumaraswamy has almost thirty years of international experience, including as the worldwide head of treasury and corporate development. He oversaw $15 billion in regional divestitures, M&A, and investments. After international postings in London, Singapore, and Indonesia, his return to India signifies a shift from corporate strategy to private equity.He is anticipated to assist L Catterton in strengthening its position in a sector where the next wave of consumer behemoths is still being formed, with Mehta and Sasidharan.According to the Retailers Association of India and Deloitte India, private consumption in India has almost doubled in the past 10 years, from $1 trillion in 2013 to $2.1 trillion in 2024. L CATTERTON NAMES UNILEVER VETERAN VIKRAM KUMARASWAMY TO CO-LEAD INDIA PUSHIN FOCUS
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