IFC considers loan for India wind power portfolio company
International Finance Corporation (IFC) may provide a $19 million loan to India’s NSL Group to support the development of a wind farm in the western state of Maharashtra. IFC already holds a 9.3% stake in the NSL subsidiary responsible for the project – NSL Renewable Power Private – while private equity firm FE Clean Energy owns another 17.4%.
According to an investment proposal, the total cost of the project is $93 million and the IFC board will decide whether or not to participate by early October. NSL wants to build a farm of 50 wind turbines...
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