Virtuaal Infra raises $5mn for hydro power projects development

Green energy developer Virtuaal Infra Power Pvt Ltd announced that it has entered in to an understanding with Singapore-based Infra Co Asia Development Pte Ltd to raise 5 million (Rs34 crore approx) for funding two hydro power projects in Arunachal Pradesh.

“The two Compulsory Convertible Debenture (CCD) facilities of up to $1.8 Million and $3.2 Million will support Virtuaal in the development of two Run-of-River Small Hydro Projects in India’s North-Eastern state of Arunachal Pradesh. VIPL have been doing its bit to counterstrike issues of carbon foot prints with its ‘Run of the River scheme (ROR) in Arunachal Pradesh,” the company said.
The company will be producing 23 MW and 14.5 MW energy through its Keyi Hydro Power Project and Pareng Hydro Power Project respectively in the state. The association will not only be beneficial to both companies involved but will also lead to the benefit of the society at large, particularly the local population in Arunachal Pradesh.

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