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.