US firm to invest $820M in Indian renewable energy

Overseas Private Investment Corp plans to invest up to US $820 million or about Rs 3,600 crore in the Indian renewable energy sector within 2011.

As part of efforts to boost clean energy initiatives, OPIC, a US government-owned financial entity, will make investments to the tune of $520 million in India’s renewable energy sector, including the solar segment, OPIC President and CEO Elizabeth Littlefield said.

Further, it would also make private equity investments worth US $300 million, especially in small solar companies. These investments, totalling US $820 million, would be made by the end of this year, Littlefield said.