Mr Sushilkumar Shinde union minister for power has laid the foundation stone for Gurgaon based RS India Group's integrated renewable energy farm at Patan in Satara district near Pune.

The project to be implemented in phases will entail an investment of INR 700 crore. Phase I of the project, for which 1,400 acres of land has been acquired, will have an installed capacity to generate 100 MW wind power, 5 MW of solar power and extract bio diesel from Jatropha plantations on 225 hectare. The second phase of the project will involve adding installed capacity of another 200 MW of wind energy and planting Jatropha on 225 another 225 hectare.

The project will be financed with lease financial assistance of INR 487 crore by the Power Finance Corporation.

RS Group is investing INR 100 crore and Power Trading Corporation has a 37% equity participation in the new company formed for the purpose called RS India Wind Energy amounting to INR 54 crore.