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| NEPC to invest Rs 2,000 crore |
| BS Reporter / Chennai/ Bangalore Sep 29, 2009, 00:39 IST |
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Natural Energy Processing Company (NEPC) India Ltd is planning to set up a special economic zone (SEZ) at Palladam near Coimbatore with an investment of around Rs 2,000 crore. The company is also talking to private equity investors to fund the project.
Ravi Prakash Khemka, chairman NEPC India Ltd said that the company is planning to set up solar and Photo Voltaic plant in the SEZ, to which the construction is expected commence from January 2009. Total investment would be around Rs 2,000 crore.
All the approvals from the state and central governments are being obtained. The proposed investment will be funded through debt and equity. “We are talking to a few private equity investors to fund the project,” said Khemka.
While NEPC’s land requirement would be only 25 acre for setting up the facility, the remaining would be given to other non-conventional energy players, added Khemka. Once the project takes shape, the company is expecting Rs 4,000-5,000 crore from investors and would provide employment to 5,000-6,000 people both directly and indirectly. Almost 360 days solar energy is available in the country, he added, considering which the company has embarked into manufacturing Solar Dual Power System, UPS.
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