Japanese consortium to make investments $370 mn in Natural Fuel Transition Platform

pipes, pure gas

Arrow are marked on pipes at a shale gas sequence and transfer facility on the Fuling shale gas mission web page. Photographer: Qilai Shen/Bloomberg

A Japanese consortium will make investments $370 million to bag a minority stake in a platform that invests in firms rising metropolis gas distribution networks in India, global infrastructure investor I Squared Capital said on Monday.

The consortium of Osaka Fuel, Sumitomo Corp and a Japanese authorities-private backed funding fund, will make investments in Indian firms that function and feature pure gas infrastructure, I Squared Capital said in a press unlock.

The platform, known as the Natural Fuel Transition Platform, has investments in closing-mile metropolis gas distribution companies including THINK Fuel and AG&P Pratham that are rising metropolis gas infrastructure across 19 geographical areas keeping 325,000 sq. kilometres, the assertion said.

“The extra capital supplied will doubtless be archaic to toughen the energy transition in India by the growth of closing-mile metropolis gas distribution infrastructure,” said Harsh Agrawal, I Squared Capital’s senior companion for Asia Pacific.

I Squared Capital supports India’s goal to shift from extra carbon-intensive fossil fuels to pure gas, where the nation goals to raise the portion of pure gas to 15% of its main energy mix by 2030 from relating to 7% presently, he added.

The infrastructure investor said the platform will even build bigger investments to raise the consumption of renewable pure gas or biogas in India and the use of green hydrogen the use of the metropolis gas community.

Headquartered in Miami, I Squared Capital has over $38 billion in property beneath administration and operates a portfolio of 82 firms globally in sectors including utilities, energy and digital infrastructure, per its assertion.