GMR plans Rs 1,750 cr investment in solar projects

GMR Group plans to invest Rs 1,750 crore over three years to take its renewable energy generation capacity, mainly solar, to 200 MW by 2014-15, a top company official said today.

The Bangalore-based infrastructure major GMR Group, said its 25 MW solar power project in Gujarat is expected to be commissioned next month.

It is looking to raise the renewable energy capacity to 200 MW at an estimated investment of Rs 1,750 crore in three years, GMR Energy CEO Raaj Kumar told reporters here.

He said the company is pursuing solar power project opportunities in Gujarat, Rajasthan and Tamil Nadu.

Kumar added, however, that GMR will not venture into wind energy area as "plant load factors are not so great" and "good sites" have already been occupied by other players.

The Gujarat solar power plant is using photo-voltaic technology, which is the fastest growing power-generation technology in the world, company officials said.

They said environment clearance for the 180 MW Bajoli Holi hydro project in Himachal Pradesh was obtained in the last quarter.

The financial closure of the 800 MW power project in Singapore was also achieved during the quarter.