Chennai-based Auro Mira Energy Company Private Limited (AME), a clean energy company, has raised $ 21 million (around Rs 96.6 crore) through its second round of institutional funding by a consortium of private equity (PE) investors comprising Aureos South Asia Fund, IFC and ePlanet Ventures for a minority stake.
The company has commenced four new renewable energy projects in the hydro and biomass sector to attain 100 Megawatt (Mw) generation capacity by 2012. It currently has two operating biomass projects of 7.5 Mw and 10 Mw.
The investment by the three private equity investors will enable Auro to complete these projects as well as acquire land and licences for new projects, a release said.