Natural Power, an India-focused solar energy firm, is looking at setting up a 5 MW solar farm near Jaipur at a cost of Rs 85 crore. The company will finance 70 per cent of the total project cost through a combination of private equity and debt raised from Indian and foreign investors, company co-founder Bharat Vasandani said.
The 5-MW project has approvals to expand to over 40 MW dependent on requirements, he said.
Jaipur-based Natural Power is a venture started by Venus Capital two months ago. Venus Capital is a boutique corporate finance company set up in February this year to focus on opportunities in India’s growing solar industry.
The company is also working on developing rooftop solar networks in Mumbai, Pune, Hyderabad, Bangalore, Indore and Bhopal.
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