India's Leap Green negotiating USD-77m funding with KKR - report
Indian Rupees. Author: Monito - Money Transfer Co.
Indian renewables company Leap Green Energy Pvt Ltd, which counts JPMorgan Chase & Co (NYSE:JPM) as a major shareholder, is looking to raise funding so it could execute its 750-MW wind pipeline, the Economic Times (ET) reports.
The company’s co-founder, Rajeev Karthikeyan, told the newspaper that Leap Green is raising bridge finance for the above-mentioned purpose and is separately holding talks with potential investors.
The newspaper revealed that US buyout firm KKR is preparing a term sheet to provide INR 5 billion (USD 77m/EUR 62m) in short-term mezzanine funding to Leap Green. KKR will have the option to convert the loans into equity if needed, the ET said.
According to the report, Leap Green is also holding discussions to raise INR 10 billion in equity to finance the installation of 500 MW.