Project Description
AquaSolar plans to build a network of plants to produce and sell safe, packaged drinking water throughout Southern India. Water will be extracted from ground water sources using PV powered pumps, purified and packaged using PV-powered equipment. The Company will franchise plant operation and water sales to local entrepreneurs. PVMTI, an IFC investment vehicle aimed to increase investment in the renewable energy sector, will provide US$2.2m in debt, approximately US$.5m in equity, and US$.3m in grant funds to AquaSolar, which is a company sponsored by Total Solar Energie India Ltd (TSEI). PVMTI is managed by Impax Capital and IT Power.