IFC invests in Indian wind power group
The World Bank’s IFC has continued its investment run in India, announcing that it will inject $15 million into power producer Simran Wind Project Private Limited, used for the company’s expansion.
According to IFC's investment filing, the group will specifically finance 126.90 MW of wind power projects in India's Tamil Nadu. Simran is currently developing two such projects, with the capacity for 75.90 MW and 51.00 MW generation, which are both located in the region. They are to be completed at a combined $40 million cost.
Simran is a fully owned subsidiary of Techno Electric & Engineering Company Limited, which has recently begun investing in wind power projects, IFC noted, with a total 95.45 MW worth of wind power assets in Karnataka and Tamil Nadu.
In terms of IFC's recent activities in the region, the group announced this week that it is considering an investment into Sri Lanka's electric energy player Senok Group and India's Shalivahana Green Energy Limited. In January, the group also committed capital to Kaizen Private Equity's $100 million debut fund, earmarked for education-focused investments.
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