To set up new wind energy projects, Shriram Group's renewable energy subsidiary  Orient Green Power has proposed to invest Rs 600-700 crore. The company has already begun to set up projects worth Rs 250 crore. Shriram wants become India's largest renewable energy company with focus on wind energy and biomass with a capacity of around 1,000 mw over the next few years.    The company said that setting up one megawatt of wind energy capacity would cost Rs 6.5-7 crore. The company will fund the projects through structured equity and debt.    Private equity fund Olympus Capital Holdings Asia and and US-based venture capital Bessemer Ventures Partners have invested in the company. Orient Green has tied up external commercial borrowings (ECBs) of $50 million, which would reduce the cost of borrowing and is pursuing refiancing/ securitisation of receivables in respect of the the entire loan of about Rs 300 crore.