A power generation facilities developer with a different pipeline of solar, thermal and hydroelectric power projects, Moser Baer Projects Private Limited (MBPPL), has captivated of an INR 13.5 billion investment from The Blackstone Group.
Taul Puri and Deepak Puri are the founders of MBPPL, who have launched Moser Baer India Limited (MBIL) earlier, which is a world-class manufacturer of technology.
By 2016, MBPPL is planning to commission 5,000 MW making up of 500 MW of hydro capacity, 4,000 MW of thermal and 500 MW of solar. The investment of Blackstone will enable MBPPL to emerge as the leading company in the energy sector of India in the near future.
MBPPL Founder Deepak Puri said that needless to stress the cruciality of the energy requirement of India that would need massive investments to maintain its high growth trajectory.
The private sector has a vital role to do since the resources of the government are limited. They’re proud to have partnership with Blackstone since it’s one of the most respected private investors worldwide and also because of its expertise in energy will support them launch one of the leading independent power generation business in India. And this will enable them to provide affordable and reliable power that the country needs to help its continued economic growth.
Chairman and Managing Director of Blackstone Advisors India Private Limited, Akhil Gupta, said that the development of the infrastructure remains to stay of their key investment themes in India and they’ve been studying the power sector of India and are glad to partner with MBPPL. They believe that they have one of the best management teams and a desirable record of completing large projects on budget and on time. MBPPL’s strategy of assets development across various sources of fuel is compelling. And they look forward to support them in replicating their success as an optical media and solar panels manufacturer in constructing one of the leading power companies in India.
Blackstone’s Senior Managing Director David Foley said that they are increasingly using the worldwide network and relationships of Blackstone to initiate and assess proprietary equity investments in high growth economies. This is a significant opportunity of the energy sector initiative because of the prevalence of local underdeveloped energy resources and the increasing demand for the energy required by these countries to help their continued industrialization and growing heads profits.
