Veer Energy to invest $90m, diversify into solar power generation
India-based wind power developer Veer Energy & Infrastructure plans to invest INR500m ($90m) to increase capacity on its existing projects while diversifying into the solar energy space.
The company is expected to build a new 25MW grid-based solar energy project in Gujarat in collaboration with Swiss company Astom.
Commenting on the future plans Veer Energy chief financial officer Jigar Shah remarked that company also has a rooftop-based pilot project in the works.
"With the successful completion of our pilot project, the company would then focus on big league by developing mega projects," said Shah.
US-based New Millennium Solar Equipment helped the company install about 400 solar panels of 58.5W each.
Veer Energy currently owns a 200MW wind farm project in the country with another 115MW project currently under construction.