We first began investing in gas and power companies in the mid 1990s.  Since then, we’ve invested over $400m in more than 10 companies.  The investments have been a mixture of Venture Capital, Growth Capital and Buyouts. Our most recent investments include:

• Advanced Power is a power generation development business which is using our sector knowledge and network to develop its project development pipeline across Europe and the US. The business has a high quality management team with a blend of experience and skills that is helping it maximize opportunities from the growing demand for new and replacement power generation projects.
• Adani Power is a 2640MW coal-based geothermal power plant development in the Gujarat region of India. The infrastructure investment will help bring power to a region that has limited capacity and currently relies on costly back-up diesel generators to power many businesses and households.  3i has invested through the $1.2bn Indian Infrastructure fund. It is the second time we have partnered with Gautam Adani because of his ability to conceptual and execute on large-scale infrastructure projects.
• Electrawinds is using our experience to develop new renewable energy projects across Europe. The business is already the leading independent renewable energy company in Belgium with further operations in Italy.  In December 2006, we acquired a minority stake in Electrawinds because of its strong management team, good growth prospects and a quality development pipeline across Europe.
• Vijai Electricals Limited (Vijai) is one of the largest businesses in the Indian power transmission and distribution equipment industry.  Vijai is investing over $70m to expand its product range to include extra high voltage power transformers and switchgear through technology tie-ups with major suppliers in Japan and Russia.  Vijai has demonstrated an ability to lead the industry and has strong growth potential.

Through our network, we see many opportunities worldwide for partnerships and acquisitions.  We support businesses that can capitalise on these opportunities to create businesses of scale and value in specialist sub-sectors.  We are actively looking to partner businesses in a number of areas, including biofuels, waste-to-energy and combined heat and power.