Israeli Holding Co. to Invest in India Cleantech Projects

granite.gifGranite Hacarmel Investments Ltd., a publicly-traded holding company that owns leading Israeli companies in the energy, infrastructure, chemicals and synergetic industries (Sonol, Supergas), will invest $6 million in a new Indian consortium that will invest in renewable energy projects in India. Granite carries out its cleantech ventures through its subsidiary GES Global Environmental Solutions Ltd. which focuses on water technologies.

Granite CEO Amiaz Sagis told Globes:

“We decided to build on the company’s strengths in areas complementary to our regular business, including energy and especially renewable energy. We’ve accumulated extensive experience in the water and energy industries in Israel.” “In India, there is a severe shortfall between energy needs and energy supply, which creates a great opportunity to enter this market, while utilizing Granite Harcarmel’s capabilities.” “We’ll invest in all renewable energy sectors, from cogeneration, wind farms, and pumped storage hydroelectric power. We think that expanding our holding in this field is the right thing to do worldwide, and in India in particular.”

Granite was founded in 1981, with a $335,000 investment. Today, it has one of the largest energy portfolios in Israel.

Check out the full Globes article here.