Hyderabad-based green energy firm Shalivahana Green Energy Ltd. has raised Rs. 90 crore ($18 million) from Axis Private Equity and IL&FS Financial Services. Shalivahana is a renewable energy firm focused on biomass and small hydro power projects. While Axis PE has invested Rs. 54 crore ($11 million), IL&FS has invested Rs. 36 crore. The deal marks Axis PE’s fifth investment, taking its total investments to Rs. 374 crore. The firm's previous investments have been spread across sectors like water supply and sanitation, laying oil and gas pipelines, railway EPC and hospitality. “This investment further reaffirms Axis PE’s commitment to invest in infrastructure related companies in high growth segments such as renewable energy.” says Mr. Alok Gupta, MD & CEO, Axis PE. "Over 60% of India’s generation capacity is from thermal sources whereas renewable energy sources (excluding hydro projects above 25 MW) account for a mere 9%. As per Ministry of New and Renewable Energ...