Lanco Solar bags Rs.884.18 cr solar power project

MUMBAI, INDIA: Lanco Solar, a fully owned subsidiary of Lanco Infratech, on Thursday said the company in consortium with Juwi Renewable India had bagged a Rs.884.18 crore ($195 million) 75 MW solar power project in Dhule district by Maharashtra State Power Generation.

"The project will be fully commissioned by mid-February 2012," the company said in a regulatory filing.

India's solar power generation capacity will reach 68,000 MW by 2021-22, triple the government's target.

"We at Lanco have given utmost importance to build on capacities on solar power generation which is also the need of the hour and aim to have 300 MW of solar power in generation by next two years and in engineering procurement and construction aim to have 300-500 MW of solar plants over the next couple of years," said L. Madhusudhan Rao, chairman, Lanco Group.

At the Bombay Stock Exchange, the shares of Lanco Infratech were up 1.07 percent to trade at Rs.33.15.