Green Infra Ltd, promoted by IDFC Private Equity fund, is set to invest over Rs 3,000 crore in renewable power generation projects in India by the end of the current Plan period (2012).
“We are setting up green power projects of around 500 Mw capacity by the end of 2012,” said Sunil Jain, vice president.
He also added that a major chunk — around 300 Mw — of this capacity would come from wind energy, while 100 Mw would be contributed by small-sized solar power projects.
“The rest of the capacity would come from biomass and small gas-based power projects. The overall cost of setting up these power plants would be around Rs 6 crore per Mw,” the official said.
IDFC Private Equity, which is the PE arm and a wholly-owned subsidiary of Infrastructure Development Finance Company, had set up Green Infra Ltd last year to set up renewable power capacity in India. Emergent Ventures India, the Clean Development Mechnanism advisory company, has a minority stake in the joint venture.