IFC to fund $5 million to NSL Renewable

IFC, is to provide $5 million (approx Rs 27.87 crore) fund to NSL Renewable Power through compulsorily convertible debentures.

NSL Renewable Power will utilise the funds to double its power generation capacity over the next 18 months. This second round of financing follows a $20-million equity investment that IFC had made in the company in 2011.