Kalpan to invest Rs 6,000 cr in hydro-electricity

New Delhi, Mar 29: Independent private power producer Kalpan Hydro today said it will invest Rs 6,000 crore for generation of 1,000 MW hydro-electricity by 2017.

''We will invest about Rs 6,000 crore for generation of 1,000 MW hydro-electricity by 2017,'' company CEO and Director V P S Chauhan told reporters on the sidelines of 'Hydro Vision India 2008' function here. The project will be financed through the American investors initially and after two and half years, the company, plans to raise money through capital market.

''The project will be funded through the American investors and after two and half years, we also plan to go for IPO,'' he added. The Noida-based company was formed in August last year.

UNI