U.S.-based private equity firm FE Clean Energy Group Inc. bought a minority stake worth $40mm in Indian-based power producer NSL Renewable Power Pvt. Ltd. According to The Wall Street Journal, the investment will go towards wind, solar and hydropower projects.
NRPPL has about 162 MW of installed capacity in renewable energy, comprised of 150 MW of wind power and two biomass p2lants creating 6 MW each. The company intends to increase its capacity to 1,000 MW by 2015, according to the same article. NRPPL is also building two medium-sized hydropower projects (100 MW and 44 MW) and two small hydropower projects (5 MW and 6 MW) in Himachal Pradesh.
FE Clean Energy Group, which manages $400 million of capital, invests in middle market energy efficiency sector and in return-driven sustainable development. The PE firm has invested $100 million in India in the last seven years.
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To read the full article by The Wall Street Journal cited in this story, click here