Moserbaer Projects on Wednesday said that New York-based Blackstone Group will invest $300 million in the company to part fund its expansion plans.
The company is into development of power generation facilities with assets in thermal, solar and hydroelectric power. New Delhi-based Moser Baer Projects plans to commission 5,000 MW by 2016 comprising of 4,000 MW of thermal, 500 MW of solar and 500 MW of hydro capacity.
Moser Baer Projects has been founded by Deepak Puri & Ratul Puri, the promoters of Moser Baer India Limited, the world’s second-largest manufacturer of optical media. Its most advanced thermal power plant is based in Madhya Pradesh and has already achieved financial closure and acquired fuel linkage. Moser Baer Projects has multiple solar projects in advanced stages of construction in India, while its first solar project outside India was completed in December, 2009 in Nordendorf, Germany.
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