PE firm NEA to invest in Chennai wind power firm

New Enterprise Associates, a $11-billion PE is investing Rs84 crore in Trishe Developers, a company specialising in creation of renewable energy infrastructure, with a focus on Wind Power Infrastructure.

According to the Chennai-based Trishe, this is the first time a private equity investment has come into a company which is purely involved in the services business of wind farms.

"So far all investments have come into either the manufacturing industry or the asset side of the business. Trishe is currently the only professional services company to offer end to end services in the wind energy sector," the company said in a statement.

Trishe's services encompass the whole gamut of wind-power infrastructure development including wind resource assessment, acquisition of land, connectivity approvals and permission for building substations, construction of substation, transmission lines, erection and commissioning.

It serves a broad spectrum of clients ranging from wind turbine generators manufacturers to independent power producers, with its first major client being Gamesa Wind Turbines, the Indian arm of the Spanish major Gamesa Corp, the world's third largest wind turbine manufacturer.

"Trishe has so far commissioned 200 MW of wind farms for Gamesa and is in the process of developing an additional 20 0MW. Trisheis also working with Vestas, the world's largest manufacturer of Wind Turbines and Indian Energy Limited (IEL) an emerging IPP.IEL had earlier announced in January that they planned to develop 1000 MW of wind projects along with Trishe," the statement added.