Indian infrastructure financer IDFC is set to invest about INR2.5bn ($44m) in its renewable energy unit Green Infra over the next six months to increase the company's wind project portfolio.
With these additional funds, the company has made a total investment of INR12bn ($209.3m) in Green Infra to finance its acquisitions.
In an interview with Bloomberg, IDFC Alternatives partner Raja Parthasarathy noted that the funds allotted by the company would aid Green Infra in accelerating its expansion plans by acquiring operating wind projects.
Market represents potential opportunities for the company who are capable of investing, added Parthasarathy.
The company has also revealed that it is keen to acquire a line of operating projects.
Green Infra, meanwhile, is planning for an initial public offering (IPO) after boosting its renewable energy capacity. The planned IPO is likely to be undertaken within 18 months, with the company set to increase its operating capacity to 500MW from current 320MW.
The investment from IDFC comes at the time when US-based investment banker has announced to put in nearly $135m to $385m in ReNew Wind Power. The wind project developer is looking to raise its power capacity to 1,000MW by 2015.