Lightsource Renewable Energy plans to invest £2billion (US$3 billion) in solar energy in India.
The firm has announced plans to design, install and manage more than 3,000 megawatts of solar photovoltaic projects in partnership with a number of Indian companies over the next five years.
The first partner announced is SREI Infrastructure Finance, which is the leading infrastructure financing entity in India specialising in financing, development and advisory functions.
“We are delighted to be announcing our investment plans for the solar PV market in India,” said Lightsource CEO Nick Boyle. “The Indian Government has ambitious plans for renewable energy and we’re very pleased that Lightsource will be contributing significantly to that goal.
“India will be a key market for Lightsource in the future. We are excited to be working with SREI, our first partner. Together we will be contributing towards the Indian Government’s and our individual companies’ ambitions.”