Lanco Infra to invest Rs 1,700 crore in solar units
Lanco Solar Energy plans to infuse Rs 1700 crore for the second phase of India's first integrated solar photovoltaic (PV) manufacturing special economic zone (SEZ) project in Rajnandgaon district of Chhattisgarh. The investment will be used to manufacture polysilicon, ingots, wafers, PV cells and modules with capacities equivalent to 250 MW 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. The first phase of the project, which involved an investment of Rs 1340 crore, will be fully operational in a couple of months. The company is also strengthening its global market and plans to build solar farms in Germany, France, Italy, the US and the UK where it is already offering engineering, procurement and construction (EPC) solutions.