Azure Power nabs US$13.6 million in funds from DEG for Indian PV projects

Azure Power India has been supplied with a €10 million or US$13.6 million risk capital in compulsory convertible debentures by Deutsche Investitions – und Entwicklungsgesellschaft .

The funding will go towards Azure’s plans for expansions over the next few years and help improve the capabilities of the company’s 10 existing operating facilities.

In November 2008, Azure obtained an undisclosed amount from Helion Venture Partners and Foundation Capital in series A funding followed by further undisclosed funding by IFC in 2010.

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