UK-based Lightsource Renewable Energy will invest Rs 65 billion over the next 2-3 years to set up 1000 MW solar energy projects in India.
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.
Lightsource Renewable Energy Ltd Managing Director and Head India Operations Rupesh Agarwal mentioned that 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. Earlier last year, Lightsource had announced tie-up with SREI Infrastructure Finance Ltd as its the first partner for foraying into Indian solar energy space.
Lightsource Renewable Energy – one of the largest solar PV energy generators globally had recently appointed Agarwal as Managing Director for its India operations.
In the last 5 years, Lightsource has deployed over 2 billion pounds to develop and operate 1300 MW of solar PV plants in the United Kingdom.
By Baishakhi Dutta
