Carbon consultancy services firm Gensol Consultants Pvt. Ltd is diluting a 15-20% stake to a US based India Venture Partnership Ltd for $4-$6 million (Rs 18.65 crore to Rs 28 crore).
Gensol, founded in 2007, provides services in areas like carbon advisory, strategic consulting for carbon foot printing and mitigation, consultancy in renewable energy projects with an expertise in solar EPC projects. It has also recently started advisory and trading services for renewable energy certificates a scheme to be launched by the Government of India under National Action Plane on Climate Change later this month.
Gensol has a portfolio of more than 25 million credits and a clientele of more than 350 companies across India. Some of its corporate clients include Mastek, Welspun, Zaveri & Co, Quippo, Bajaj Hindustan, among others.
Gensol is also planning international expansion into markets like South East Asia, Europe and UK. It has established a pan-India presence with offices in cities like Bangalore, Mumbai, Ahmedabad and Gurgaon. Gensol's existing turnover is slated to grow 15 times by 2012 and the team size is also expected to escalate from the present 120 to 600 in the next three years, said the company in a statement.
"There is a landscape of opportunities for carbon advisory firms with the topical issues of global warming and climate change experiencing heightened focus by both public and private domain. The post-2012 market is also expected to gain momentum with an augmented demand and supply of carbon credits and number of new emerging schemes being introduced by various developing countries in order to meet their targets," said Anmol Jaggi, Director, Gensol Consultants Pvt. Ltd.
Emergent Ventures India Pvt. Ltd, a clean development mechanism (CDM) consulting company, also raised $10 million (Rs 40 crore) in funding from IDFC Private Equity in 2008.