In a recent interview to Financial Chronicle, Lanco Group’ s Chairman L Madhusudan Rao said that the company was planning to restructure the power business and make it a seperate entity. He further added, that Lanco was planning to build about 500Mw of Solar power through EPC contracts that provide engineering, procurement and construction (EPC) services. He further added that Solar business will be an independent vertical in the long-term.
Lanco has recently announced a plan to invest Rs.30bn in 250MW Solar PV manufacturing facility in Chhattisgarh. Further as Panchabuta understands, Lanco is in advanced discussions with GT Solar to set up the PV manufacturing chain. As readers of Panchabuta might be aware, Birla Surya selected GT Solar for India’s First Commercial-Scale Polysilicon Facility last year.
Lanco Solar already has about 105MW of capacity under development and has plans of developing 300 MW in 2-3 years. As readers of Panchabuta are aware. Lanco had successfully announced the commissioning of the second 5MW grid connected Solar Pv project in India. That project was done by Lanco in partnership with Trina Solar was the exclusive supplier of the PV modules.