SME Times News Bureau | 30 Apr, 2013
NSL
Renewable Power Private Limited (NRPPL), part of the Hyderabad-based NSL Group,
Monday announced that has raised equity investment of $60 million to fuel its
growth in wind and hydro power sectors.
The company raised the equity from a group of investors comprising of
Development Finance Institutions, DEG - Deutsche Investitions- und
Entwicklungsgesellschaft from Germany and PROPARCO from France, Asia Clean
Energy Limited, a private equity fund from South Korea and GS Power Co. Ltd
from South Korea.
Existing investors in the company, International Finance Corporation and FE
Clean Energy also participated in this round of fund raising, said a company
statement.
NRPPL currently has 185 MW of installed capacity, which includes 148 MW of wind
power, 20 MW of solar power, 12 MW of biomass power and 5 MW of hydel power.
The investment will give NRPPL the required financial support to more than
double its capacity over the next 18 months.
"With this investment, the company will be able to accelerate its
development pipe-line and is well poised to achieve its targeted potential of
being a 1 Gigawatt Company by 2016," said M. Prabhakar Rao, chairman, NSL
Group.
In the earlier round of investment, NRPPL raised $40 million from FE Clean
Energy and $20 million from International Finance Corporation.
