India-based NSL Group plans to invest around $650m in wind power projects in Chile over a period of three years.

The company, the parent of India’s fifth-largest wind-turbine maker, has been awarded rights to develop 400MW of wind farms across five sites in the South American country.

NSL Chairman Mandava Prabhakar Rao said that this project will be one of the largest in Latin America and renewable-energy policies and economic stability make Chile favourable for investment, reports Bloomberg.