Three solar firms picked for Andhra Pradesh development

Three solar companies are going to be setting up shop at Karidi in Andhra Pradesh’s Anantapur district, which has earmarked 5,000 acres for the projects, according to a report in tomorrow’s edition of the Business Standard.

State-run Andhra Pradesh Industrial Infrastructure, which develops industrial parks, said it has issued offer letters to the companies. Andhra Pradesh is a state on the south-eastern coast of India.

The businesses are expected to invest more than Rs 3,000 crore ($644 million), with Rs 2,000 crore coming from Sunborne Energy Technologies and about Rs 600 crore each coming from AES Solar and Hyderabad-based Lanco Solar.

Gurgaon, Haryana-based Sunborne, with offices in Cambridge, Mass., is looking to bring utility-scale solar to India with its first solar thermal energy plant being developed in the western Indian state of Gujarat.

Arlington, Va.-based AES Solar, which also has an office in Gurgaon, is developing a platform of utility-scale solar photovoltaic projects around the world. Established in March 2008, AES Solar is a joint venture between global power company AES (NYSE:AES) and Riverstone Holdings, with committed capital of $1 billion (see AES, Riverstone in $1B solar venture).

Lanco Infratech, through its Lanco Solar subsidiary, is reportedly planning to invest nearly Rs 4,000 crore to set up solar projects in India. Lanco Infratech in an Indian conglomerate that focuses on construction; power; engineering, procurement, and construction; infrastructure; and property development.

In August, Lanco Solar expressed interest, among other companies, in establishing production facilities in Gujarat (see Seven solar makers eye Gujarat for new production facilities).

Andhra Pradesh Industrial Infrastructure said more offer letters are expected to go out to companies in conjunction with SolarCon India 2009, a solar energy conference being held in Hyderabad from Nov. 9-11. An additional 15,000 acres of land is available at Karidi on top of the 5,000 that has already been doled out. The land has been deemed suitable for solar, with the power is expected to benefit the domestic sector.

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