Indian renewable energy developer Greenko has outlined plans to invest around €350m in onshore wind and hydropower projects across the country during 2013-14.
This move comes as the company aims to increase its renewable energy generation capacity to 1,000MW by 2015, reports the bloomberg.com.
Greenko Corporate Finance director Mark Thompson was quoted by the site as saying that the company currently has 806MW of renewable energy projects that are under construction, while the company is planning to add new wind energy capacity, totaling 250MW in 2013.
The wind and hydropower are among the low-price resources for energy generation in India, while making good amount of returns, added Thompson.
According to Bloomberg, the company is planning to construct and acquire hydropower assets in the country.
Currently, Greenko operates approximately 309MW of renewable energy projects that include 41MW of biomass. The company has projects under construction totaling 446MW and is anticipated to complete around 200MW by the end of March 2014.