IFC may offer $130 mn for wind farms in Guj, Raj

International Finance Corp is likely to provide $130 million (about Rs 682 crore) funding to Inox Renewables for developing wind farms in Gujarat and Rajasthan.

IFC, part of the World Bank group, focuses on lending to entities in the developing world.

"The total project cost is estimated at $480 million for up to 400 MW of wind farms proposed to be implemented by March 2013.

"The proposed IFC investment is an A loan for IFC's own account of up to $90 million and equity investment of up to $40 million," according to the multilateral lender.

These wind farms, coming up in Gujarat and Rajasthan, will be developed by Inox Renewables Ltd, a subsidiary of Gujarat Fluorochemicals Ltd.