Hong Kong’s CLP to invest $1 bn in India’s solar energy

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Investments seem to be flowing from all corners for India’s solar sector. The recent is a big one and will be the largest foreign direct investment (FDI) in the country. Hong Kong’s CLP is planning to invest $ 1 billion in India’s solar energy sector and this has been confirmed by CLP India’s top official.

According to Mahesh Makhija, Director of Renewables Business Development at CLP India, the local unit of the Hong Kong-based company is planning to invest approximately $1 billion for over one gigawatt of solar power capacity over the next three to five years.

According to information available, CLP India will bid for projects under the Jawaharlal Nehru National Solar Mission (JNNSM) and will also invest in projects that are already taken up by others.

“Solar power has experienced great thrust from the Indian government and the favourable policies make the sector attractive and create a conducive environment for us. Our strategy is to build a balanced portfolio by adding solar power to complement our capacities,” Makhija added.

Under National Solar Mission India has a target of 100 GW of solar energy deployment to achieve by the year 2022 and CLP sees that as a great opportunity to invest in this country.

By Atanu Kumar Das