How A Chennai-Based Renewable Energy Company Bagged A $2.2 Billion Order
NDTV
Ram Charan Company, the Chennai-based chemicals-trader-turned-renewable energy specialist with focus on sustainable R&D, has bagged a $2.2 billion order from the Ghana-based Masri Company
Ram Charan Company, the Chennai-based chemicals-trader-turned-renewable energy specialist with focus on sustainable R&D, has bagged a $2.2 billion order from the Ghana-based Masri Company to supply waste to energy units that is expected to generate 300 MW of power in the African nation.
Last month, the New York-based impact fund TFCC International had entered into an agreement with Ram Charan to pick up 46 per cent stake for $4.14 billion, valuing it at around $9 billion.
The deal was biggest in the domestic chemicals space and one of the biggest private equity deals across the industry in the country till date and it said the TFCC investment will go into developing new energy management systems and manufacture renewable energy devices with high storage capacity made from sodium silicate.
Ram Charan started off as a chemical distributor in 1965, and from 2016 it has moved into research on managing end-of-life chemicals, and since then has developed products that can process large quantities of unsegregated waste.
