Reliance Capital plans to invest Rs 100 crore in wind energy venture

Reliance Capital, one of India’s leading & amongst the most valuable financial services companies in the private sector is planning to invest Rs 100 crore in a wind energy joint venture (JV) in the country, partnering with China's Ming Yang Wind Power Group. Last year on July 2, 2013 the company had entered into definitive agreements with Ming Yang Wind Power Group, a leading wind turbine manufacturer in China, through Ming Yang Holdings (Singapore), its Singapore subsidiary.

Under the agreements, Ming Yang Singapore plans to establish a joint venture (JV) with Reliance Capital by subscribing to a significant stake in the share capital of Global Wind Power (GWPL), a leading wind power solutions provider in India, in which Reliance Capital and related entities are currently the largest shareholders. This agreement would be closed soon and an investment of Rs 100 crore would be made through the joint venture.

Reliance Capital is part of Reliance Capital, one of India’s largest financial services companies with over 20 million customers. The company is the only AMC in India to have been chosen to manage both public funds sponsored by the Indian government - the Provident Fund and Pension Fund.