pipe, natural gas

Arrows marked on pipes at the Shale Gas Collection and Transfer Facility at the Fuling Shale Gas Project site. Photographer: Qilai Shen/Bloomberg

Global infrastructure investor I Squared Capital on Monday said a Japanese consortium will invest $370 million to acquire a minority stake in a platform that invests in companies developing city gas distribution networks in India.

A consortium of Osaka Gas, Sumitomo Corp and a Japanese government-private sponsored investment fund will invest in Indian companies developing and operating natural gas infrastructure, I Squared Capital said in a statement.

The platform, called the Natural Gas Transition Platform, consists of investments in last-mile city gas distribution businesses including Think Gas and AG&P Pratham, which will develop city gas infrastructure across 19 geographies covering 325,000 square kilometres, the statement said. are doing.

“The additional capital provided will be used to support the energy transition in India through the expansion of last-mile city gas distribution infrastructure,” said Harsh Agarwal, I Squared Capital’s senior partner for Asia Pacific.

I Squared Capital supports India’s goal of shifting from more carbon-intensive fossil fuels to natural gas, he said, where the country aims to increase the share of natural gas in its primary energy mix by 2030 from the current around 7%. Have to do 15%.

The infrastructure investor said the platform will also increase investment in India to boost consumption of renewable natural gas or biogas and use of green hydrogen using city gas networks.

Headquartered in Miami, I Squared Capital has more than $38 billion in assets under management and operates a portfolio of 82 companies globally in sectors including utilities, energy and digital infrastructure, according to its statement. Is.

first published: 15 April 2024 | 11:37 pm First

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