NRPPL raises $40 million for power projects

July 18th, 2011 - 9:11 pm ICT by IANS  

Hyderabad, July 18 (IANS) NSL Renewable Power Pvt Ltd (NRPPL), part of the Hyderabad-based NSL Group, Monday said it had executed an agreement with FE Clean Energy Group, a clean energy focused private equity fund, for an investment of $40 million.

NRPPL will use the capital raised to meet equity commitments for its various wind, hydro and solar power projects, said a company statement.

After the demerger from Nuziveedu Seeds Pvt Ltd, the flagship company of NSL Group has been seeking to raise capital to fuel its growth in the renewable energy sector.

The company has about 162 MW of installed capacity in renewable energy comprising 150 MW of wind power including a 50MW wind farm and two bio-mass plants of 6 MW each.

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