Apart from Sharper Shape, Finland's Chempolis and Fortum, too, have big plans to invest in India, Chempolis, which has developed technologies for energy from waste and for ethanol, has signed a 50:50 joint venture with Numaligarh refinery in Assam to set up a unit that can make energy from bamboos.
The company's president for Asia told Business Standard their technology can be used to produce rentable energy and ethanol, among others. "We have plans for investing in these areas in a big way in India and talks are going on, including with some sugar companies." For the Assam refinery, the partners would invest Rs 500 crore each.
Shreyash Doshi, consul general for Finland, said, "At least five to six companies from Finland are talking to companies based in Maharashtra in the areas of renewable energy and ethanol making, among others."
Finland's euro 17-billion Fortum group is also betting on solar and wind energy in India. It had won a bid for setting up a solar plant in Rajasthan and has one unit in Madhya Pradesh. Markus Rauramo, executive Vice-President, said: "We have a plan to set up plants of around one gigawatts of wind and solar energy globally."
