Home » Finance » IFC To Invest $19 Million In NSL Wind

IFC To Invest $19 Million In NSL Wind

According to reports, IFC is considering to provide loan of $ 19 Mn in NSL Renewable Power’ subsidiary NSL Wind Power Company Satara Private Limited to part finance the project.

NSL Renewable Power intends to set up a wind power project of 75 MW in Chilarwadi village of Man Tehsil, Satara District of Maharashtra through a subsidiary NSL Wind Power.

The Project will be implemented in two phases with 25.5 Mw to be implemented in the first phase. Construction period for each phase is expected to be 6 months.

The Project involves supply, erection, testing, commissioning, operation and maintenance of 50 wind turbines, with a unit generating capacity of 1.5MW to be supplied by ReGen under a supply, erection and commissioning contract with NSL Wind.

Last July, FE Clean Energy Group invested $40 Mn in NSL Renewable Power.

NSL Renewable Power, which was demerged from the group’s flagship Nuziveedu Seeds Ltd, has about 162 MW of installed capacity in renewable energy comprising of 150 MW of wind power (including a 50MW wind farm which is expected to be commissioned later this month) and two bio-mass plants of 6 MW each.

NSL Renewable Power’s shareholders include 73% by the Promoter Group, 17.4% by FE Clean Energy and 9.3% by IFC.

Recently, Baring PE Partners and Aditya Birla PE were planning to buy 20% stake in Anu Solar Power. Bharat Forge was planning to sell stake in its wind energy business Kenersys.

Reliance Capital was planning to sell a significant stake in Global Wind Power to Chinese Ming Yang Power, Morgan Stanley Infra Partners bought a majority stake in Continuum Wind Energy – develops wind farm assets in India, for R1200 Cr.

Goldman Sachs acquired majority stake in ReNew Wind Power for R1000 Cr, founded by Sumant Sinha-former CEO of Suzlon Energy, Trishe energy was in talks with a number of PE firms to raise about $100 Mn and ReGen Powertech raised R152 Cr from MCap Fund Advisors, TVS Capital and IDFC Private Equity in Apr’12.

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