PR Fonroche to invest Rs. 800 cr in solar energy | business | Hindustan Times
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PR Fonroche to invest Rs. 800 cr in solar energy

business Updated: Jan 18, 2013 23:24 IST
Manu P Toms

PR Fonroche, a joint-venture between Mumbai-based PR Clean Energy and Paris-based Fonroche Energie, is set to invest Rs. 800 crore in India this year to develop solar power plants with a total capacity of 100-150 MW.

The company will commission 20 MW solar plant - built by Mahindra EPC - in Rajasthan with an investment of $42 million (Rs. 229 crore) next week.

Pratap Raju, joint managing director, PR Fonroche said the company plans to participate in two NTPC Vidyut Vyapar Nigam (NVVN) tenders in mid-2013 for 50 MW and the upcoming Andhra Pradesh state government tender for 10 MW solar power plants.

PR Fonroche also plans to bid for setting up 50 MW capacity under the scheme proposed by Solar Energy Corporation of India.

The company will bid for another 7.5 MW under Rooftop PV and Small Solar Power Generation Programme (RPSSPG), another scheme sponsored by ministry of renewable energy that is meant to start projects in regions with relatively low solar energy generation potential such as northeast, J&K and Goa.

Apart from these states and central government schemes, the company looks to develop solar power projects for private sector too.

"Many companies using diesel generator sets want to replace them with solar power. We have already got a 10 MW project for a pharmaceutical company," Raju said.

"We are in talks with a steel manufacturer to set up 10 MW plant to help the company meet its renewable purchase obligation and a pharma company for a 20 MW plant."