Aeon Renewable Energy Solution, Chennai-based energy firm will play a pivotal role in establishing the solar power hub of Tamil Nadu. The firm is reportedly set to invest Rs 2.5 billion for setting up solar power projects in the region over the next three years, according to a Business Standard report.
Apart from solar power projects, the company will also deal in retail solutions for solar power generation. “We are planning to invest Rs 250 crore in three phases in the next three years to develop our presence in rooftop solar energy solutions market and to launch two mega projects with a total capacity of 25 MW,” R Chandrasekaran, chairman, Aeon reportedly said.
The company has joined hands with one of the Chinese solar panel manufacturers, Yingli Solar, which will offer its technical assistance and equipment supply strategy to Aeon. The Chennai-based firm will be responsible for assembling and installing the solar panels.
The firm will focus on domestic segment through installation of rooftop solar units with 1 kW capacity. Initially, the funding will be done by promoters, family, friends and associates; and later on through banks.
In the next stage, the company would install solar power plants at two location accounting to a total capacity of 25 MW, which would supply electricity to the institutional buyers, including industries, colleges and schools as per the report.
