The USD 40 Bn Aditya Birla group is planning INR 6,000 Crores investment in solar power projects over the next five years.
Some of the companies recent developments towards solar power business are:
- Acquired a minority stake in a Solar PV plant controlled by Electrotherm in Gujarat
- Signed a long-term leasing agreement with Refex Energy to operate a solar plant at Bithuja in Rajsthan
- Essel Mining & Industries Ltd, a subsidiary of Aditya Birla is already into the business of wind power generation.
- Under the same company, around 100 MW solar projects are being planned over next 1 to 1.5 years.
- The current investment of the Group is around Rs. 200 Crs to develop 20 MW of solar projects.
Further plan of the Group includes, a target of $ 1 billion over the next 5-6 years.
According to sources, a three-pronged strategy has been devised by Mr. Ravi Khanna, CEO of Solar Power business (joined recently from Scandanavian Advanced Technology).
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