India – Lanco Infratech targets 300 MW concentrated solar energy in 2 years

Infrastructure company Lanco Infratech on Monday said it has got letters of intent to develop a 5-MW solar PV project and a 100-MW concentrating solar thermal power project in Rajasthan under the first phase of the National Solar Mission (NSM).

It also plans to develop 200-300 MW of concentrating solar power over the next two years, Lanco said in a statement.

“The recent wins under NSM especially 100 MW in solar thermal, goes well with our strategy to develop 200-300 MW over the next two years across the nation and emerge as a leading developer in the country and globally,” its subsidiary, Lanco Solar’s CEO Sai Baba said in the statement.

The letters of intents were awarded to the company by NTPC Vidyut Vyapar Nigam Ltd. (NVVN), a unit of NTPC, is the government’s designated agency for procuring solar power under the National Solar Mission, which aims to have a generation capacity of about 20,000 MS of solar power by 2022.

Lanco also offers turnkey engineering, procurement and construction (EPC) services to others solar power developers and is looking to build 300-500 MW of Solar Thermal and Solar PV plants over the next 2-3 years, the statement added.

Besides this, the company has recently commissioned its first 5 MW project in Gujarat and is developing an over all capacity of 35 MW in the state.

Scrips of Lanco Infra were quoted today at Rs. 62.15 apiece on the Bombay Stock Exchange, down 0.96 per cent from the previous close.