Lanco Infratech Limited (LITL), Flagship company of Lanco Group, one of the fastest growing business conglomerates in India with interests in power, construction & EPC, infrastructure and renewable, today announced that it has received Letters of Intent (LOIs) from NTPC Vidyut Vyapar Nigam Limited (NVVN) for development of a 5MW solar PV project and a 100MW solar Thermal project in the state of Rajasthan under the first phase of the National Solar Mission.
Lanco completed its first 5MW project in Gujarat. The project located in Patan, Gujarat is one of the largest solar power plants (SPP) in the country and the first for the state. Lanco Infratech Limited is developing an overall of 35MW in Gujarat under Gujarat State Policy.
“We are very excited with the recent developments in the sector in India and the way our project pipeline is taking shape in solar “said Mr. Sai Baba, CEO, Lanco Solar,
“Lanco stands at the forefront in solar in India with its completed 5MW in Gujarat and another 5MW targeted for commissioning in Gujarat by April, 2010. The recent wins under NSM especially 100MW in solar thermal, goes well with our strategy to develop 200-300MW over the next two years across the nation and emerge as a leading developer in the country and globally.”
Lanco is also offering turnkey EPC services to other Solar power developers and is looking to build 300-500MW of Solar Thermal and Solar PV plants over the next 2-3 years.
About Lanco
Lanco Infratech Limited is one of India’s top business conglomerates and among the fastest growing. Lanco Infratech has subsidiaries and divisions across a synergistic span of verticals. These include construction, Power, EPC, Infrastructure and Property Development. Lanco Infratech’s projects, operational and underway, are spread across India. At present, the power portfolio includes an operating capacity of 2,082 MW. The Construction and EPC division of the company is executing various orders worth more than Rs 254 billion. The company is developing 163 Kms of National Highways on BOT basis. A member of UN Global Compact, Lanco Infratech is recognised for its Corporate Social Responsibility initiatives led by the Lanco Foundation.