A consortium of investors led by Morgan Stanley Infrastructure Partners and
partnered by General Atlantic LLC (GA), Goldman Sachs Investment Management,
Norwest Venture Partners, Everstone Capital and others has invested $425 million
(approx Rs 1,950 crore) in infrastructure company Asian Genco (AGPL).
AGPL will use the proceeds to fund the development of its portfolio of power
generation investments in India. The company is developing an investment
portfolio of hydel, thermal and non-conventional generation assets, under
construction and development, totalling 4,000 MW at an estimated outlay of $4.5
billion (approx Rs 20,700 crore). Its assets include 1,200 MW Teesta III project
in Sikkim, 1,320 MW supercritical thermal project of the East Coast Energy Phase
I at Srikakulam in Andhra Pradesh.