Caisse ups stake in India's Azure Power with $100 mln investment

Caisse de dépôt et placement du Québec has increased its interest in Azure Power Global Ltd, a New Delhi, India-based solar power producer, to 40 percent. The enhanced stake was the result of a US$100 million ($130 million) investment by the Caisse, bringing its total commitment to US$240 million ($310 million). Established in 2008, Azure Power has a pan-Indian portfolio of more than three gigawatts spread across 23 states. Emmanuel Jaclot, executive vice president, infrastructure, at the Caisse, said the additional investment reflects the pension system's view of India's solar power sector as a priority market.

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