Enzen Global sets side Rs 120 cr for green buys

By ​ Krithika Krishnamurthy

BENGALURU: Enzen Global Solutions, a Bengaluru-based energy-focused advisory firm, said it has set aside Rs 120 crore (about $20 million) to make at least three acquisitions this year.

"This is the right time for us to scale.We will be completing all the acquisitions by the third quarter," said Sateesh Kumar, co-founder of Enzen.

Kumar said the deal size will likely be in the range of $5-6 million (Rs 30 crore) each. In addition to acquiring companies across the world, the firm will also pick up stake in a few startups.

"We are in advance talks with an European advisory firm as part of our expansion strategy," said Kumar, whose company has so far raised $10 million from the US-based private equity firm Monsoon Capital.

The company that provides high-end solutions to the energy and utilities industries is also looking at investing in data analytics firms based in India that gives a peek into customer demand across different energy sources. "All of us in clean tech want to see exits. There is a whole lot of action, which means consolidation needs to happen," said Shyam Menon, investment director at cleantech investment fund Infuse Ventures.