Athein Seeks up to $300mn for Solar Projects in India

Asian renewable energy platform Athein is seeking to raise between $250 million and $300 million in equity from investors to fund its planned solar and wind projects in India, the Philippines, and Vietnam, the company's CEO said.

Milan Koev, Athein's chief executive based in Singapore, said the company seeks $1 billion in total over the next five years, to fund the 2.5 gigawatt-peak (GWp) pipeline of project. The rest will take the form of debt, while Athein has hired Hong Kong-based Green Horizon Capital Partners to advise on the equity raise, Koev said in an interview.

He said the company was starting with three countries where it has a pipeline of projects, all solar, except for one wind project in Vietnam. "Going forward, we may look into a couple of other interesting markets," Koev said. "We're paying attention to Indonesia and Thailand, Australia."