Neev Fund, backed by SBICAP and UK Government’s Department for International Development (DFID), has announced a private equity investment of US$ 5 Million in Punjab Renewable Energy Systems Pvt. Ltd. (PRESPL). Intellecap served as the investment banker for the deal. The investment will be utilised by PRESPL for business expansion in underdeveloped states and regions of the country in the area of biomass supply chain to enable safe and sustainable environment. Punjab Renewable Energy Systems Pvt Ltd (PRESPL) is an end-to-end biomass value chain management company involved ...
Neev Fund is contributing $5m via a private equity investment to Punjab Renewable Energy Systems (PRESPL). The biomass value chain management company will utilise the funding to expand its biomass supply chain to help ensure a sustainable environment in underdeveloped Indian regions. Collecting, processing and storing materials such as maize-cob, paddy straw, cotton-stalk and soya-husk, it then supplies biomass to clients as a raw material for energy or converting into biofuels. “India has huge potential but we need to make sure that our forests are managed sustainably so they can be used by future generations,” said Dr Anil Gupta, founder of PRESP. Neev Fund said its investment will help provide farmers with additional income and reduce air pollution caused by agricultural residue burning.