Lanco receives LoA for INR8.84 billion solar power project from Mahagenco
Lanco Solar, a subsidiary of Lanco Infratech Limited, in consortium with Juwi Renewable India Ltd, has received a letter of award, or LoA, from Maharashtra State Power GenerationCo Ltd, or Mahagenco, for building a 75MW Crystalline technology based photovoltaic, or PV, solar power project in Dhule district in Maharashtra. The project value is INR8.84 billion.
The project would be fully commissioned by mid February 2012.
Madhusudhan Rao, Chairman, Lanco Group, said, “India’s solar power generation capacity will reach 68,000 megawatts (MW) by 2021-22, triple the government’s target. To pursue the same, we at Lanco has given utmost importance to build on capacities on solar power generation which is also the need of the hour and aims to have 300 MW in generation next two years & in EPC aims to have 300-500 MW of solar thermal and solar PV plants over the next couple of years.
“What we are trying to create today is a small portion of the opportunity we have in the future and for the same Lanco Infratech has been developing a number of solar projects and has been at the forefront in its commitment to develop and promote renewable energy in India.”