US-based Evergreen Power in talks to raise $100 mn for India

US-based Evergreen Power in talks to raise $100 mn for India

US-based Evergreen Power is in talks with investors, including private equity, infrastructure funds and strategic investors, to raise up to $100 million in equity to ramp up its wind energy projects in India, its top executive told ET.

The company wants to bring 280 megawatts (MW) of wind energy online in the next 12 months in the states of Tamil Nadu, Karnataka and Madhya Pradesh.

Eventually, it aims to scale up wind energy production capacity to 1 gigawatts by 2020 by adding 250-350 MW every year.

“We are seeing tremendous interest from serious investors, not just some people testing the waters. They want to put significant capital to work in India. India’s macro-factors, central government strength is instilling confidence in the investment community,” said Surjeet Kumar, co-founder at Everereen Power. Read More…
 

Credit By : Economictimes.indiatimes.com

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