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Saturday, July 25, 2009

US firm to invest $2 bn in India’s renewable power sector

Renewable energy player Astonfield will invest around $2 billion in India over the next five years to generate about 1,000 MW of power, most of it from solar sources, a top official said Friday.

Photo-valtics technology is being used to generate solar energy.

Astonfield Renewable is the Indian unit of the US-based infrastructure major Astonfield Management.

Much of the proposed $2 billion investment will be for building solar-powered projects with a capacity of 500 MW, he said.

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