US-based Co invests Rs 70 cr in Bhoruka Power

Mumbai, Jan 17 (UNI) US-based Darby Overseas Investments, an arm of Franklin Templeton Investments, has invested Rs 70 crore in Bangalore-based Bhoruka Power Corporation- a pioneer company in renewable energy sector.

The deal was made through Darby's affiliate and confirmed by Company CEO Richard H Frank, who said, ''BPCL represented an excellent investment opportunity because of its strong position within India's rapidly expanding renewable energy sector.'' BPCL is engaged in the development and construction of small hydro-electric and wind energy power generation projects and has a portfolio of 14 projects mainly in Karnataka cumulating to 91 MW of renewable energy capacity, a release said here today.

It further has plans to commission another 111 MW within the next two years.

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