Wind energy companies Gamesa, Suzlon & Mytrah infusing huge funds into solar energy

NEW DELHI: Big wind energy companies in India such as Gamesa, Mytrah andSuzlon are all diversifying into solar space this year with plans to invest several hundred million dollars in the next five years in installing thousands of solar megawatts, given the government’s impetus to the sector.

While London’s Alternative Investment Market (AIM)-listed Mytrah Energy (India) Ltd, which is an independent power producer, plans to invest a total of $400 million, of which $100 million would be in equity over the next one year solely in setting up its solar business, Gamesa Indiawill invest euros 200 million over the next two years for its overall operations, as it diversifies into solar space this year.

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