Making Renewable Energy AccessibleThis is a unique opportunity to invest in India’s first Renewable Energy AIF with target 15% IRR
over 10 years and have an impact in accelerating deployment of solar assets across
commercial and industrial sectors.
- Deployment period of 36 months
- Fund length of 10 + 2 years
- 2% Management Fee, 20% Carried interest with an IRR Hurdle of 12%
- First close and minimum size is INR 20Cr. Our target size is INR 50Cr
- There is Green-Shoe option of an additional INR 20Cr
- Minimum Investment is INR 1Cr to participate
- All opportunities evaluated to deliver an unleveraged Project IRR > 16%
- We also plan to leverage the portfolio for an overall Project IRR > 19%
We utilize our expertise, network, and technology to filter through the noise.Transforming the energy landscape calls for a multi-faceted approach to unlocking capital. We do that by resolving barriers and creating the ideal conditions for investments. We provide our Investors a hassle-free approach to invest in renewable energy projects. Given the market dynamics and cost of solar, this is an ideal time to tap into the opportunity of solar asset investing for the masses.
Why Renewable Energy AIF?Renewable energy offers a non-cyclical investment opportunity that doesn’t have the ups and
downs of the economic cycles.
It offers an annuity style return to diversify your portfolio.
Asset Management – Distributed EnergyDistributed Energy is a venture-backed development and aggregation platform that connects renewable projects with funders. They will be the asset managers for this fund.
As an asset manager they have experience with Commercial and Industrial Solar. They will prioritise the deployment of this fund above any other.
TERMS OF INVESTMENT
|Minimum Participation||INR 1 Crore (Including under Joint Names) / ±USD 140,000|
|Timeline (subject to SEBI approval)||Launch: Dec 1, 2020; First Close: Nov 30, 2021; Final Close: May 31, 2022|
|Initial Investment Period||12-18 months following launch|
|Instrument||Units in Solar Commercial & Industrial Investments Scheme I of Hamsa AIF Category
|Fund size||First close and minimum size is INR 20 Cr. Our target size is INR 50 Crr|
|Fund Tenure||10+2 years|
|Fee Structure||2% Management fee;
20% Capital interest past Hurdle rate of 12% XIRR p.a. (includes catch up of pre-hurdle)
|Indicative IRR||Target 15% IRR for investor over 10 years. All opportunities evaluated to deliver an unleveraged Project IRR > 16%|
|Fund Auditor||M.C. Ranganathan & Co (Proposed)|
|Fund Trustee||Amicorp Trustee (India) Pvt Ltd|
|Investment Manager||Hamsa Asset Management Pvt Ltd|
|Reinvestment Policy||Exit proceeds if any reinvested for 4 years following Final Closing|
|Cash Distribution Policy||Beginning 2 years after the Final Closing. All net proceeds related to returns
and surplus will be distributer pro-rata to Investors in order: Capital, Hurdle
rate, Carried interest. Distribution subject to Investment Manager discretion
|NAV Policy||Proposed to be reported quarterly subject to regulatory requirements|
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