March 2009
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Cinema Capital Venture Fund gets FIPB nod for Rs 500 million

Cinema Capital Venture Fund (CCVF) has got the FIPB (foreign investment promotion board) nod to bring in Rs 500 million as part of its fund-raising programme to build a corpus of Rs 7.5 billion for supporting financing needs of film companies. CCVF had applied to the FIPB to get approval for a fund inflow in the region between Rs 500 million and Rs 2 billion, says the company's promoter Samir Gupta. The induction of foreign investments will be in units of an Indian venture capital fund scheme, organised as a trust and registered under the Securities and Exchange Board of India (Sebi). “We plan to raise foreign capital only after the general elections,” says Gupta. […]

March 6th, 2009

eSolar invested $30 million in Acme group

U.S. solar power plant developer eSolar said Tuesday it has signed a $30 million deal with Indian technology company Acme Group that is part equity investment and part licensing agreement. Under the deal, Acme will build up to 1,000 megawatts of solar-thermal power plants in India using eSolar's technology, and could work with other companies that want to build solar plants using eSolar's technology, the companies said. Acme plans to start construction on the first 100 megwatts of a 250-megawatt project in India using eSolar's technology, according to privately held eSolar, of Pasadena, Calif. “Acme's $30 million dollar commitment demonstrates their confidence in eSolar's technology,” eSolar Chief Executive Bill Gross said in a statement. “We are committed to working with the very best partners, such as Acme, to scale deployment as quickly as possible around the world.” […]

March 6th, 2009