The renewable energy arm of Shriram Group and Bessemer Ventures and Olympus Capital-backed Orient Green Power (OGPL), is planning to invest around Rs 600-700 crore to set up new wind energy projects.
Under the proposed plan, the company is likely to add 170 MW wind power projects in the next two to three years. Most of these projects will come up in the states of Andhra Pradesh, Maharashtra and Madhya Pradesh.
The company will fund the projects through structured equity and debt.
Private Equity fund Olympus Capital Holdings Asia, and US-based Venture Capital Bessemer Ventures Partners, are already investors in the company.