Why marquee investors like Morgan Stanley, Goldman Sachs invest in India’s wind power ventures

Whichever side of the political divide you are on, it is common sense that coalgate — the ongoing controversy over the allocation of coal mines to big Indian corporates — will further delay project approvals in the country’s core power generation and distribution segment, which has lately seen slower investment. However, India’s alternative energy segment, especially the wind power business, has become hot for global funds and investment banks.

The private-equity division of Goldman Sachs has invested close to Rs 1,000 crore in ReNew Wind Power, which plans to develop 1,000 MW of renewable energy projects by 2015. The company recently launched its first 25 MW wind farm project in Gujarat. It has many more projects under development, including a 60MW wind farm in Maharashtra.

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