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US hedge fund plans to invest Rs 500 cr in hydropower cos

Economic Times – US hedge fund Wexford Capital LP is looking to buy equity stakes in Indian hydroelectric power generation companies and has chalked out a plan to invest Rs 500 crore ($108+ million) in the country. The fund house will make investments through its wholly-owned subsidiary, Indus Renewable Energy India. At present, Indus Renewable Energy does not have any operations or any downstream investment.

A person familiar with Wexford’s expansion plans in India said Indus Renewable Energy has already sought approval from foreign investment promotion board(FIPB) to make investment.

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