IDFC is likely to invest around Rs 350 crore as private equity (PE) fund in Essar Power, which will be used to part finance Essar's ongoing projects. The company will soon sign an agreement to this effect.
Essar Power is in the process of implementing 5,000 MW power plant over the next four years and it has already implemented projects of 1,140 MW at an estimated invest of Rs 4,000 crore.