Solar Company HCL Expanding Investment in India

According to Thehindu.com, leading Indian solar power developer Hindustan Cleanenergy Ltd. (HCL) is aiming at 1 GW of capacity by the end of 2016, and is planning an initial public offer later this year to fund its expansion. At present the company has a capacity of 350 MW, which will increase to 500 MW by the end of this year.

HCL, a wholly-owned subsidiary of Hindustan Powerprojects Pvt. Ltd. (formerly known as Moser Baer Projects Pvt. Ltd.), will be investing Rs.5,500 crore in the next two years to fund its expansion plans.

The company has already invested a like sum in building its current capacity of 350 MW.

We are planning an IPO this year to fund our expansion

Raja Wardhan Ghei, CEO-India Solar Business, Hindustan Cleanenergy, told visiting journalists at the company’s 30 MW solar farm in Gunthawada, Gujarat.

Read the original article at theHindu.com

Press Release About Press Release