Intellecap advises on equity investment in Punjab Renewable Energy Systems from responsAbility

Intellecap, which aims to provide innovative business solutions that help build and scale profitable and sustainable enterprises dedicated to social and environmental change, acted as the sole advisor for an equity deal between Punjab Renewable Energy Systems (PRES) and responsAbility.PRES

Punjab Renewable Energy Systems (PRES) is one of India's leading organised fuel aggregation and supply companies focused on agriculture residue, with operations in multiple locations across India, informs the communiqué from Intellecap. “India has a high energy deficit of more than 9%, and a large import bill dominated by fossil fuels that contributes to 15% of its current account deficit. In addition, an estimated 100 million tons of agriculture residue is burnt off every year causing high levels of pollution. PRES offers a simultaneous solution to both problems by providing an organised supply chain to cater to an industry where fuel supply shortages are a concern, by aggregating, processing and distributing biomass efficiently.”responsAbility

Swiss-based responsAbility Investments AG is one of the world's leading independent asset managers specialising in development-related sectors such as finance, agriculture, health, education and energy in emerging economies, with assets under management of $1.4 billion, states the deal announcement. It adds that “responsAbility has acquired a minority stake in PRES for an undisclosed amount, and will support the current management team via representation on the Company’s Board. This investment will go towards driving PRES’ planned expansion into new locations in India and abroad.”