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NSL Group May Buy Chile Wind Project for $50 Million

According to reports yesterday,  FE Clean Energy Group , a Connecticut-based PE firm will be investing USD 40 million in NSL Renewable Power Private Limited (NRPPL), part of city(Hyderabad)- based NSL Group.

NRPPL will use the funds to meet equity commitments for its various wind, hydro and solar power projects being developed in various parts of the country, a statement from NSL said.

According to reports, NSL Group, the parent of India’s fifth-largest wind-turbine maker, is close to buying a wind project in Chile for $50 million, the Economic Times reported, citing people it didn’t identify.

The Hyderabad-based group plans to acquire the development rights to build a wind farm in phases across five adjacent sites in the South American country, the report said.

The acquisition is part of a plan to spend $650 million over the next three years to develop 400 megawatts of wind capacity, it said.

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