Blackstone Invests $300 Million in Largest India Deal

Blackstone Group LP, the world’s biggest buyout firm, said it’s acquiring a stake in Moser Baer Projects Pvt. for $300 million, its largest investment in India.

Blackstone will get a “significant minority stake” in the energy company, Akhil Gupta, chairman of the private equity fund’s India operations, said in an interview today.

The fund, based in New York, has invested $1.25 billion in 12 Indian companies so far, Gupta said in New Delhi. It plans to pump as much as $3 billion into India in the next five years, including $1 billion in power companies, he said.

India plans to boost power generation capacity by 75 percent by 2017 to reduce blackouts and drive economic growth. The nation’s Planning Commission said at least half of the estimated $1 trillion investment in highways, ports, airports and utilities from April 2012 to March 2017 should come from private companies.

“Infrastructure development continues to remain one of our key investment themes in India,” said Gupta.

Moser Baer Projects will commission 4,000 megawatts of thermal power by 2016 and 1,000 megawatts of solar and hydro power, said Deepak Puri, chairman of Moser Baer India Ltd.

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