Lanco Infratech is setting up a 100 mw solar cell manufacturing plant and plans to lease part of its solar SEZ to foreign and Indian firms which want to participate in India’s ambitious renewable energy programme.The company’s subsidiary Lanco Solar Private Ltd has signed an agreement with the Chhattisgarh government for the unit. Lanco Infratech has earmarked around 150 acres within its solar SEZ for domestic and foreign companies interested in setting up solar manufacturing facilies in India.
“The salient feature of the project is that it has already approved and committed water and power availability and all clearances for land and its usage,” the company said.Lanco Solar President R K Roy told ET that the proposal will be a revenue stream for his company. Lanco Infratech is looking at new investment after announcing a turnaround after three years of losses. “This SEZ, located in Rajnandgaon district of Chhattisgarh is a perfect plug and play opportunity for solar manufacturing with all approvals, land, water and power already available for companies interested in setting up these units,” the statement said. Lanco has already invested.`1200 crore to manufacture Poly-Silicon Refining and Wafer Plant and 150 mw solar module plant in the SEZ.
Lanco Infratech Executive Chairman L Madhusudhan Rao said, “We feel that the location of the plant is ideal as it is centrally located for entire Indian market. We are elated to be part of the MOU as this will be a showcase project being the first poly silicon and Ingots & wafers manufacturing facility coming up in India which will be bringing the state of Chhattisgarh on global Silicon map. At the same time it plays anchor Industry role to attract investments in other solar PV manufacturing units within this plug & play SEZ zone.”