Saturday, July 23, 2011

NSL Group bags 400-MW wind project in Chile for $ 650 mn

HYDERABAD: The NSL Group, a Rs 3,500 crore diversified business conglomerate based in the city, has acquired developmental rights to set-up a 400-MW wind power project in Chile, according to NSL Group (NSL) Chairman Mandava Prabhakar Rao.

Prabhakar Rao said the investment outlay for the entire project is expected to be around $ 650 million.

"We have acquired this 400-MW project in Chile during the search for global opportunities in wind power generation. Chile's excellent investment climate and economic stability and favorable policies toward renewable power made it a favourable investment destination for the group to and it would act as a springboard to capitalise on the opportunities in Latin America," Rao told.

The NSL Group's overseas subsidiary, which acquired development rights to set up the project, is expected to complete the project in three years, Rao said.
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