News provider DealCurry said RVAM and GE had invested R70 to 80 Crore ($15.5 to $18m) in India-based Allgreen Power.
Reliance Venture Asset Management (RVAM), the corporate venturing unit of India-based industrial conglomerate Reliance ADA Group, and US-listed General Electric (GE) have bought a minority stake in renewable energy provider Allgreen Energy.
News provider DealCurry said RVAM and GE had invested R70 to 80 Crore ($15.5 to $18m) in India-based Allgreen. Allgreen had previous agreed a partnership with GE to build 10 biomass-to-energy plants in India for R550 Crore.
Last year, RVAM backed Gradatim IT Ventures, Tessolve Services, Reverse Logistics, Scalable Display Technologies and Suvidhaa Infoserve, DealCurry said.
