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Lanco Infra to invest Rs 1,700 cr in solar unit

Lanco 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 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.

According to reports, Lanco Solar Energy, a subsidiary of Lanco Infratech, plans to infuse Rs 1,700 crore for the second phase of India’s first integrated Solar PV manufacturing special economic zone (SEZ) project in Rajnandgaon district of Chhattisgarh. “We will inject over R1,700 crore for the second phase for manufacturing polysilicon, ingots, wafers, photovoltaic cells and modules with capacities equivalent to 250 MW (megawatt) per year,” said V Saibaba, CEO, Lanco Solar Energy.

The SEZ project, which commenced four months ago, is being developed in phases to put Chhattisgarh in the global map of polysilicon production bases. “We have estimated the fund requirement but the mode of financing is yet to be decided, which could be a mix of debt and equity both,” said Saibaba.

The first phase of the project, which involved an investment of Rs 1,340 crore, will be fully operational in a couple of months.

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