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

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 manufact

uring 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.

Moreover, 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. “Alongside, in global solar markets, we have started participating in the bidding process of power purchase agreements,” said Saibaba.