Astonfield Renewable Resources Limited (Astonfield) is planning to invest $2 billion over the next five years in renewable energy sector in India. Bulk investment would be on the solar power projects. Astonfield has opened its offices in New Delhi, Mumbai and Kolkata making its Indian operations important in global framework. Astonfield is building a 10 megawatt (MW) biomass plant at Gangarampur and a 5 MW solar photo-voltaic plant at Bankura, in West Bengal.
These projects would require an investment of about $15 million and $20 million.
Astonfield is planning to set up similar solar projects in Kenya, Tanzania and Uganda over the next next three to four years.
The company is approaching all the major financial institutions for mobilizing project financing.
We plan an investment of $2 billion in the next 4-5 years, a major chunk of which would be used to set up solar power projects in India, Astonfield Co-Chairman and Director Sourabh Sen said.