MUMBAI, INDIA, ReNew Wind Power Pvt. Ltd., a company set up by former Suzlon Energy Ltd. Chief Operating Officer Sumant Sinha, said Monday Goldman Sachs Group Inc. will invest up to INR10 billion ($201 million) in the wind power producer.

The investment highlights the interest of global majors in renewable energy projects in India where the government is promoting the sector by providing fiscal incentives including tax concessions.

The country has an installed renewable power generation capacity of 20 gigawatt, and the federal minister for renewable energy, Farooq Abdullah, said earlier this month India would require $100 billion to add 50 GW of renewable energy capacity by 2020.

ReNew said it plans to set up 200-300 megawatt of wind-based power capacity every year and have 1,000 MW of capacity by 2015.

ReNew is currently developing a 25 MW wind farm in the western state of Gujarat and a 60 MW farm in neighboring Maharashtra.

It has signed business framework agreements with Kenersys GmBH, Regen Powertech Pvt. and Suzlon to set up wind farms in India.

India has the world's fifth-highest installed wind-based power capacity. Wind energy has been the fastest growing form of renewable energy in the country and currently accounts for about 8% of India's total power generation capacity.

Investments in India's wind energy sector have averaged more than $3 billion a year in 2009 and 2010, according to data from renewable energy consultancy Energy Alternatives India.