Comments
AMPL Cleantech, a subsidiary of Kolkata-based Atha Group, is looking to invest about ₹3,000 crore to increase its total renewable energy capacity to 1,000MW (1GW) by 2022. The company, which is scouting for projects in India and across foreign shores, is also looking to raise offshore funds and rope in strategic partners and investors.
Of the total 1GW, the company proposes to set up nearly half of it in India.
“We keep on evaluating. We have now started to look outside India and are scouting for opportunities across the eastern coast of Africa and in far east countries. We are looking to bid for projects with a fair size of at least 50MW and above,” AMPL Cleantech CEO Brijesh Gupta told BusinessLine .
At present, the renewable energy firm has nine operating solar and wind power plants totalling 200MW capacity spread across Karnataka, Telangana, Maharashtra, Madhya Pradesh and Rajasthan. It has wind assets of 12.5MW in Maharashtra, Gujarat, Karnataka and Rajasthan.
To set up renewable energy projects, AMPL Cleantech is looking at African countries such as Zambia, Namibia, Mozambique, Tanzania and Gulf countries such as Oman and cities like Dubai and Sharjah. Further, it is looking at South-East Asian countries such as Indonesia, Vietnam and Cambodia among others.
“We are also closely studying Thailand,” Gupta said, adding that the company has already won a couple of global projects. He, however, declined to disclose any details of these projects.
The company, which has already invested about ₹1,300 crore, is also closely looking at new bids and development of solar parks in India. For a Tamil Nadu project, the company will be investing ₹800-1,000 crore, while the remaining is earmarked for other projects.
Fund-raising plans
AMPL Cleantech, which has a debt of about ₹800 crore on books, is also looking at raising funds from global markets.
“We are also open to partnerships, part equity stake sale and bringing in strategic partners to derisk and strengthen our books. We are exploring a lot of ideas,” Gupta added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.