Ezon Energy secures Rs 140 Cr to set up solar power projects in Karnataka & Kerala

Renewable energy solutions provider Ezon Energy has raised Rs 140 crore from Japanese investor Natori Nohisa to set up 140 MW of solar power projects in Karnataka and Kerala.

“We are in the process of forming the special purpose vehicle (SPV) and the entire 100-plus megawatt solar project shall be implemented by March,“ said Hiten Shah, vice-chairman of Ezon Energy Solutions.

The family office of Nohisa has invested through Asia Power Plant, a Rs 7,000 crore Japanese company. The funding has been structured on equity and project basis, thus avoiding stake dilution in Ezon Energy, Shah said.