Caparo Energy India Limited has raised $ 33 Mn (Rs.150 Cr) from IDFC India Infrastructure Fund through issue of CCPS and equity shares.

The funding is second tranche of mezzanine finance provided for 4 years term to Caparo by IDFC, which provided a first tranche of $78.5 Mn (Rs.350 Cr) in June for a 6 year term.

The fund-raising will help it finance projects with a combined capacity of around 700 MW.

The company, a fully owned unit of London-listed Caparo Energy Ltd, a wind based power producer expects to repay both the tranches from internal cashflows, sale of senior debt instruments, bonds or other debt refinancing, within the next 3-5 years.

Transaction Reference: Bloomberg

Caparo Energy Limited, an independent power producer intends to acquire a portfolio of wind farms with a target total annual installed capacity of up to 5,000 MW by 2017. Its investors includes Henderson, Eton Park, Capital International, and Black Rock.

The company expects to achieve the full 1 GW of project orders with Suzlon by March 2013.

The wind energy investments are part of a larger shift two indicators of which are:

• With investments of $72 billion in utility-scale renewable energy projects and companies, for the first time more has been spent on renewable energy in developing countries than in developed economies.
• Now more than 50% of the countries have some sort of renewable energy policy in place
  

2010 listed wind asset performance was dampened. This along with Obama’s focus away from Cap-And-Trade and onto healthcare reforms has dampened the green enthusiasts but the performance of sector this year is turning focus back to the winds.

NEX VS Selected Indices

Sustainable Energy Funds By Focus And Asset Class, as at Q1 2011, $ Bn

More can be read in this Bloomberg New Energy Finance – UNEP report.

Global Trends in Renewable Energy Investments 2011 - Bloomberg

More on Wind Power Economics in India can be read here

Here's a link to aggressive players entering in the wind market.

Last month, IFC lent $15 Mn to Bhilwara Energy Limited, to develop, own and operate a 51 MW wind farm in Kukudwad village, in Maharashtra.

In this space, recently, Kolkata-based Techno Electric & Engineering Company Limited was planning to raise Rs.750 Cr debt from IFC, Standard Chartered Bank and DBS Bank to part finance its 200 MW wind power project in Tamil Nadu; while IFC was planning to invest upto $20 Mn in NSL Renewable Power Pvt Ltd to funds its small & medium hydro and wind power projects in Himachal Pradesh, Maharashtra and Karnataka.

Previous Article

Online Healthcare Store Healthkart.com Plans To Raise $10 Mn

Next Article

PE Backed Augere To Sell 4G Spectrum, Quit India Operations