Lanco has announced plans 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.
The company 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.
Lanco Solar already has about 105MW of capacity under development and has plans of developing 300 MW in 2-3 years. Lanco has successfully commissioned the second 5MW grid connected Solar Pv project in India. That project was done by Lanco in partnership with Trina Solar-the exclusive supplier of the PV modules.
The company has also recently bid for a 200MW solar park in Greece.
According to reports, Lanco Infratech Ltd., set to emerge as India’s biggest builder of solar power plants, said it’s willing to consider overseas acquisitions with the industry poised for consolidation.
“There’s a shake-up happening in the solar industry,” said V. Saibaba, chief executive officer of Lanco Solar Pvt., a unit of India’s largest non-state power producer. “If any interesting opportunities come our way, we’re definitely open.”