Morgan Stanley enters Indian wind energy market
US global financial services firm Morgan Stanley will pay US$210 million for a majority stake in one of India's top wind energy firms.
Acting through subsidiary, Morgan Stanley Infrastructure Partners, the firm will acquire a stake of over 50% in Continuum Wind Energy. This Singapore-based company operates Indian wind farms with a total capacity of 36 megawatts. It and has agreements in place to develop a further 175MW in India.
Analysts said the deal is another boost to India's expanding wind energy sector. Earlier this month, New Delhi-based Welspun Energy, Ltd revealed plans to invest US$1 billion in two new wind farms.