World set to install 593 GW of new solar in 2024 - Ember
Sep 19, 2024 13:28 CESTGlobal investment firm KKR & Co Inc (NYSE:KKR) will buy a 60% stake in Indian environmental services provider Ramky Enviro Engineers Ltd (REEL), which has a certain focus on renewable energy generation.
KKR has entered into a definitive agreement that envisages making primary and secondary investments totalling USD 530 million (EUR 465m) in the Indian firm, valuing the whole business at USD 925 million.
The transaction represents India’s first private equity buyout involving a company from the environmental services sector. The investment will be made from KKR’s Asian Fund III.
REEL offers custom solutions to environmental needs across areas such as integrated waste management, wastewater and water treatment and remediation, among others. Presently, the company runs waste treatment facilities in over 60 locations across India, Singapore, the Middle East and Africa. It handles 3.5 million tonnes of municipal waste and 1 million tonnes of industrial waste.
When it comes to the field of waste-to-energy processes, REEL provides consulting and integrated environmental services.
(USD 1.0 = EUR 0.878)
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