Astonfield to pump in Rs 3600 crore for solar project in Gujarat

Business Standard 2009-02-04, Ahmedabad
To set up 200 MW solar PV project

Kolkata-based Astonfield Renewable Resources Limited (ARRL) is all set to foray into green energy. Astonfield recently signed a MOU with the Gujarat State Government for executing a mega 200 MW solar PV project across the state during Vibrant Gujarat Global Investors summit.

With the addition of the 200 MW solar PV allotments in Gujarat, ARRL currently has over 300 MWs in their project portfolio. 'Gujarat will be a top priority on our build schedule. We are keen to take on from there and begin our pan India projects without delay,' said Ravinder Raina, ARRL's President of India Operations.

'Also on the agenda are aggressive plans to address the need to educate the Indian populous about renewable energy, and what it can do for economic growth, pollution control, as well as electrifying more locales,' added Mr. Ameet Shah, Co-Chairman of the Astonfield Group.

In addition to solar PV, ARRL is also developing renewable energy plants using biomass and municipal solid waste-to-energy technologies. ARRL has project allotments and/or active business development operations in eight different states in India.

'ARRL is greatly enthused to begin our work in the state of Gujarat with such a significant allotment. In the future, we will look to Gujarat to be a leader and steadfast partner in promoting the renewable energy story in India,' said Sourabh Sen, Co-Chairman, Astonfield Renewable Resources Limited.

To achieve its objectives, Astonfield has formed relationships with top-tier engineering, finance, and project partners to implement world-class projects. In the role of an unbiased sponsor, Astonfield has the capability to select the best partners for a specific endeavor, bringing them together in a manner that gives primary consideration to the public interest. Astonfield aims not only to fulfill its commitments, but also to provide an example for the world community to follow.

Astonfield Renewable Resources Limited was founded around the concept of developing and providing world-class renewable energy solutions to growing nations with the genuine desire to further these economies under a public-private partnership structure.

After India, the group is looking at similar projects in the Middle East and African countries such as Kenya, Tanzania and Uganda over the next three-four years.