Old lane invests $ 26 mn in KVK Energy

Mumbai, Nov 1 (UNI) Old Lane Mauritius, an investment vehicle of Old Lane India, has invested 26 million dollars in infrastructure major, KVK Energy to fund its upcoming projects.

The Old lane investment in KVK Energy and Infrastructure will primarily help to fund KVK's projects including 1,200 MW KVK Nilachal power project in Orissa, monitored by the Inter Institutional Group (IIG) set up by the Ministry of Power, and the 120 MW power project in Chhattisgarh.

The KVK Group operates across conventional as well as renewable sources such as natural gas, coal, bio-mass and hydro power, and currently owns stakes in nine power generation projects spread across six states.

Old lane India Chairman K Vijaya Kumar said, ''Old lane is delighted to partner with KVK Energy and Infrastructure. With this partnership, Old lane hopes to play a role in powering the growth momentum of the country.'' UNI AD NM PDT RS1550