Suzlon Energy Limited (BSE:532667) is set to raise around $120 million from private equity investors Asia Climate Partners (ACP) and Olympus Capital Asia to create a renewable energy platform, two people aware of the development said. "Suzlon has been in talks with investors to create an independent platform to invest in and to acquire renewable assets, for the past few months," one of the two said, requesting anonymity because the talks are private. "The talks with Olympus and ACP are in a very advanced stage and the transaction is expected to close very soon." Suzlon is being advised by investment bank Edelweiss Financial Services to help raise funds for the platform, the person added. The platform will invest in new wind and solar power assets as well as to expand existing ones, said the second person cited above, also requesting anonymity. "The platform will initially acquire some assets from Suzlon itself and then also look at newer assets to acquire and develop. They plan is to develop around 500 megawatts to 1 gigawatts of assets under the platform," he said.