According to reports a few days ago, 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.
NSL Group Chairman Mandava Prabhakar Rao said it had acquired developmental rights to set-up a 400-MW wind power project in Chile, according to NSL Group (NSL) .
According to reports, NSL Group, the parent of India’s fifth-largest wind-turbine maker, plans to invest $650 million in a wind power project in Chile that would triple the South American nation’s capacity.
NSL has acquired the rights to develop 400 megawatts of wind farms across five adjacent sites, the Hyderabad-based group said in an e-mailed response to questions. It expects to invest the funds over three years.
The project would be one of the largest in Latin America and “would act as a springboard to capitalize” on other opportunities in the region, NSL Chairman Mandava Prabhakar Rao said in the e-mail.
Electricity prices in Chile, which has 172 megawatts of installed wind capacity, have almost tripled since 2005 because of a power shortage, according to the Global Wind Energy Council. Favorable renewable-energy policies and economic stability make the country favorable for investment, Rao said.
NSL declined to identify the project site or say how much it paid for the development rights. The group owns Regen Powertech Pvt., India’s fifth-largest wind-turbine maker.