International Finance Corporation, World Bank Group, which had also earlier invested in NSL firm, recently approved the investment to part fund the wind energy project estimated to cost about Rs 500 crore.
NSL Renewable Power Private Ltd, a subsidiary of NSL Group, is setting up a 75 MW wind farm in Maharashtra in two phases.
It has secured a $19 million (about Rs 100 crore) loan from International Finance Corporation for its wind power farm.
The Hyderabad-based diversified group is setting up several wind farms including a 75 MW wind power project in Chilarwadi village in Satara district of Maharashtra.
This is being implemented by its step down subsidiary NSL Wind Power Company (Satara) Private Ltd.
The company proposes to implement the project in two phases with 25.5 MW in the first phase. Each phase will have a construction period of six months from the commencement of work.
For NSL arm, the project involves supply, erection and operations and maintenance of 50 wind turbines with each unit generating 1.5 mw.
This is to be supplied by ReGen under a supply pact with NSL Wind. ReGen, a group firm, is also operations and maintenance operator of the project. It has constructed a 220 kV transmission line from pooling station to Maharashtra State transmission company.
The diversified NSL group has interests in seeds, power including renewable energy, sugar and infrastructure.