Caparo raises more finance as wind farm build out continues

AIM listed Indian wind energy developer Caparo Energy has raised a second tranche of mezzanine financing of $33.5m to help fund its ambitious wind farm development programme in India.

The finance is being provided for a 4-year term by Indian lender Infrastructure Development Finance (IDFC), which provided a first tranche of $78.5m in June. Caparo says that as it said in June, the mezzanine financing does not entail any equity dilution for the company’s existing shareholders. “The Company expects to repurchase/buy-back both tranches of mezzanine from internal cash flows and the issue of senior debt instruments, bonds or other debt refinancing, within three to five years,” Caparo says.

Caparo says that the $112m total of mezzanine finance, along with existing resources, Log in to read complete article.

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