Big Indian utilities investing heavily in renewable energy

Tata, Reliance Power bet big on renewable energy, to spend Rs 1,500 crore each, Economic Times, By Shuchi Srivastava, ET Bureau | 9 Jul, 2014, MUMBAI: Two of the country’s largest power producers Tata PowerBSE -5.04 % and Reliance PowerBSE -7.70 % are betting big on renewable energy and will spend about Rs 1,500 crore each on clean energy projects this fiscal.

While Reliance Power has big plans in the renewable energy segment with a special focus on solar, Tata Power said that all the new capacity that it is planning to add over the next two years, close to 800 MW, comprises clean energy projects in the wind, hydro, solar .. ……..

Reliance Power is confident that environment is now ripe to provide a big thrust to the renewable energy space in particular to solar PV projects,” the company added.

This comes at a time when the the ministry of new and renewable energy (MNRE)plans to set up giant solar projects in Rajasthan, Gujarat, Ladakh and Kargil. This is a part of the government’s target of achieving 20,000 MW of solar capacity by 2020.

“Reliance Power is keen to be a part of the journey to position India as one of the world’s major solar power producers in the coming years. Given the exciting new opportunities such as the ultra mega solar PV projects and the shortfall in meeting the renewable purchase obligations by various state discoms,” said the company. http://economictimes.indiatimes.com/articleshow/38044771.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

July 9, 2014 - Posted by Christina Macpherson | Uncategorized

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