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Press

Astonfield JV to set up $2 billion solar cell facility in state

The Times of India 2008-06-16

Kolkata: Astonfield, the US-based infrastructure and management group promoted by NRI Sourabh Sen, is planning to set up solar photovoltaic panel unit in West Bengal. The estimated investment in the project could be over $2 billion (around Rs 8,000 crore).

Sen, the director of the Astonfield group, said, it is forming a joint venture with a Japanese company for the project. ?ÄúOur power arm, Astonfield Renewable Resources Ltd, is likely to form the 50:50 JV with the Japanese firm which is a world leader in this field,?Ä? he said.

However, Sen refused to disclose the name of the Japanese firm. ?ÄúThe Japanese conglomerate has plants in Spain, Korea and Japan. But at this point in time I cannot name them,?Ä? he added.

According to him, a top-level delegation of the Japanese firm is coming to Kolkata on June 16th to finalize the location. ?ÄúWe are also trying to meet chief minister Buddhadeb Bhattacharjee,?Ä? Sen added.

Elaborating Astonfield group?Äôs India plan, Sen said it is also implementing a solar power project in Bankura and a biomass project in Gangarampur in South Dinajpur. ?ÄúWe are investing Rs 100 crore for the Bankura project and Rs 50 crore for the Dinajpur project,?Ä? he added.