A Japanese consortium will invest $370 million to acquire a minority stake in a platform that invests in companies developing city gas distribution networks in India, global infrastructure investor I Squared Capital said
I Squared Capital, an infrastructure investor, has announced a strategic partnership with a consortium of Japanese investors, including Osaka Gas, Sumitomo Corporation, and Japan Overseas Infrastructure Investment Corporation (JOIN), to become minority shareholders in the Natural Gas Transition Platform based in Singapore. The Platform focuses on Indian city gas distribution networks, operating CNG stations, and supplying PNG and LNG to industrial and commercial customers.
Harsh Agrawal, Senior Partner at I Squared, highlighted India’s aim to increase natural gas share in the energy mix to 15% by 2030. The new partners share this ambition, aiming to facilitate the shift to natural gas in India’s energy sector.
The investment will support last-mile city gas distribution infrastructure expansion, with active investments in THINK Gas and AG&P Pratham. The platform aims to serve millions of vehicles and thousands of commercial and industrial users by 2030.