Lightsource Renewable Energy to invest Rs 6,500 crore in India in 2-3 years

NEW DELHI: UK-based Lightsource Renewable Energy will invest Rs 6,500 crore over the next 2-3 years to set up 1000 MW solar energy projects in India. 

"The company is looking at developing 1000 MW of solar power projects entailing an investment of Rs 6,500 crore over the next 2-3 years," Lightsource Renewable Energy Ltd Managing Director and Head India Operations Rupesh Agarwal told PTI. 

Lightsource recently won a 50 MW solar project in Maharashtra under the Centre's ambitious solar programme. This is the maiden solar project secured by the company in India. 

"We are eyeing 1000 MW of solar power projects in the country which is bare minimum in the backdrop of government's ambitious target of adding one lakh MW by 2022. We would like to do even more than targeted 1000 MW in coming years depending on the auctions of these projects," Agarwal said. 

He added that the company will "only secure projects through competitive bidding in India as it has no plans to procure projects through MoUs or otherwise". 

He also said Lightsource will operate alone in the country and is unlikely to tie with any domestic or other operator for the execution of the projects. 

 

Source : http://economictimes.indiatimes.com/industry/energy/power/lightsource-renewable-energy-to-invest-rs-6500-crore-in-india-in-2-3-years/articleshow/55414519.cms

SMART GRID Bulletin July 2017


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