Piramal Enterprises (PEL) and Dutch pension fund APG Asset Management will invest $132 million in Essel Green Energy Private Ltd, the solar business arm of Essel Group. Essel Green Energy currently owns 160 megawatt (MW) of solar assets in four states of India, of which 110 MW is operational and 50 MW is currently under execution, Piramal Enterprises said in a statement on Tuesday. With the fresh round of investment, Essel Group plans to ramp up its solar power capacity to 1,000 MW in the next two-three years. Founded by Subhash Chandra in 1976, Essel group has business interests in media, packaging, entertainment, technology-enabled services, infrastructure development and education. “We see great potential in green energy as a segment. Given the government’s focus on non-conventional energy and Essel Infra’s strong track record, we are confident that the investment will yield good results,” said Jayesh Desai, co-head, structured investments group, Piramal Enterprises.