ePlanet Makes $4.8 Million Investment in Auro Mira Energy

ePlanet Ventures II, LP has made an investment of $4.8 million in AME (Auro Mira Energy Company Private Limited). AME is among the fastest growing companies in clean energy in the Indian sub-continent, as part of the second round funding of $21 million in which a private equity investor’s consortium participated, including major players such as IFC (International Finance Corporation) and Aureos South Asia Fund.

Founded in 2005, Auro Mira currently has two sites in India that operate towards generating renewable energy by making use of biomass for sale across the country’s corporates. The company also proposes aggressive expansion plans towards commencing new projects for renewable energy in the biomass and small hydro sector towards attaining a power generation capacity of 100 MW by 2012. Auro Mira is presently running two biomass projects with capacities of 7.5 MW as well as 10 MW.

Investment by three investors in private equity will be enabling Auro Mira in completing these projects while acquiring licenses as well as land for the new projects in future. ePlanet has pioneered in developing a true global venture in the growth capital business while becoming the pioneer venture capital firm for utilizing the global model with offices located in the USA, Europe and Asia.