India: Wind energy firm NuPower looks to raise $300m in two tranches

Deepak Kochhar, managing director, NuPower Renewables Pvt. Ltd. Photo: Mint

Wind energy producer NuPower Renewables Pvt. Ltd is looking to raise $300 million in two equal portions to develop 1 gigawatt (GW) of capacity over next six years, managing director Deepak Kochhar has said.

NuPower, which has 200MW of wind projects in operation and an additional 500MW in the pipeline, is seeking investments from pension funds in Canada, Australia and the US, which are keen to expand their renewable energy portfolios, Kochhar said. “We are looking at two tranches of $150 million each, which we are quite hopeful on,” he said.

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