Al Gore-backed Just Climate invests USD 150m in India's Continuum

Continuum Green Energy has attracted an INR-12.56-billion (USD 150m/EUR 135m) equity investment from climate solutions investor Just Climate to help advance the India-based renewable energy firm’s pipeline of generation and storage projects across the country.

Set up in 2009, Continuum Green sells renewable energy to commercial and industrial consumers in India. It has a portfolio of operational and near-operational wind and wind-solar-hybrid assets of about 2.2 GW and a targeted pipeline of 1.3 GW for the next 24 months.

The company’s current major shareholder is North Haven Infrastructure Partners, a global infrastructure investment fund managed by Morgan Stanley Infrastructure Partners.

Just Climate, established by Al Gore’s Generation Investment Management, will make the bet from its USD-1.5-billion (EUR 1.35bn) Climate Asset Fund I, launched in 2023. The transaction hinges on regulatory and third party approvals, a press statement said on Monday.

The deal with Just Climate comes after a recent USD-650-million bond issuance and previous financings executed by Continuum from a group of institutional investors.

(INR 100 = USD 1.194/EUR 1.077)

(USD 1 = EUR 1.353)

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