Gensol consultants, the carbon consultants, plan to fund renewable projects worth 100-Mwcoming in the wind, solar and hydropower sector from first tranche of fund the company has raised.
Anmol Singh Jaggi, Director Gensol Consultants revealed the company had launched Rs 350 crore ‘Gensol renewable energy Fund’, which would help companies address the equity-related issues involved while venturing into renewable sector projects.
Earlier the company had proposed to launch a $200 million (Rs 936 crore approx) ‘Gensol renewable energy Fund', but the slowdown in economy, forced the company to scale down the funds.
The amount for the fund has been raised both through internal accruals as well as with help of institutional investors, who were looking to gain from carbon trading.
The amount invested on equity would be gained through regular supply of carbon credits the company would be earning over a period of time.
Gensol consultants have over 350+ clients across India with portfolio of 18 million carbon credits.
Jaggi added Gesnol was also helping a company setup up cement plant in Varanasi which would use slag (waste in steel industry) instead of clinker.
Use of slag could help company save 4.5 million tons of Carbon Dioxide in 10 years time.
The company is also consultant to few of the steel rolling mills in Mandi Gobindgarh area in Punjab who are setting up their winds mils in Rajasthan.
Gensol Consultants Private Ltd is a 360° Carbon Solution Provider with expertise in generation, registration and trading of carbon credits.
GCPL’s key services include Carbon Advisory (under brand Gensol), Strategic consulting - Carbon foot printing and mitigation (under brand Green Karma) and Consultancy in Solar projects.
The company has a portfolio of more than 18 million credits and a clientele of 350+ companies across India - including organisations such as Mastek, Welspun, , Quippo, Bajaj Hindustan, and is also an empanelled consultant for Government. of Himachal Pradesh.
