The deal will help GVK Power cut debt by Rs 2,000 crore.
Recently, it raised $265 million from Abu Dhabi Investment Authority.
Deal also envisages setting up 2,000 MW of solar projects.
The Indian infrastructure firm is backed by Blackstone.
The deal is expected to be completed by this month end.
Deal to increase Tata Power’s wind power capacity to 570 MW.
Govt hikes green energy cess from Rs200 per tonne to Rs400 on coal, lignite and peat.
IPC is eyeing acquisitions to increase generation capacity to over 1,500 MW by 2017.
Retail investors’ portion was covered less than half.
Government aims to raise about Rs 5,029 crore from the offer for sale.