Hero Future Energies, the Indian renewable energy venture arm of motorcycle and scooter manufacturer Hero Motocorp Ltd., is seeking to secure $200 million in a new funding round.

Hero Future Energies is aiming to raise investments from private equity investors and expects a valuation of $700 million to $800 million on the expanded capital base.

With the proposed funding, Hero Future Energies, which currently has a portfolio of 1,200 megawatts (MW), plans to use the money to boost its capacity to 2,700 MW by 2020 and over 3,500 MW by 2022.

In January 2017, Hero Future Energies raised $125 million in funding round used to fuel its expansion plans.