Multinational renewable energy provider Hindustan Power will be building 15 solar projects in Japan by the middle of next year with an investment of about 15 billion rupees ($233 million), a top company official said on Monday.

Japan's Ministry of Trade, Economy and Industry had invited bids for the project. Hindustan Power has already made a payment of $100 million to acquire licenses, said Lalit Jain, CEO of international solar and hydro at the company. The projects that will produce a total of 150 megawatts of energy "are expected to be completed by mid of the next year," he said.

"Post the implementation of the projects, we would explore the opportunity to sell [them]," Jain said without elaborating.

Hindustan Power, which aims to produce 2 gigawatts of energy globally by 2022, has executed over 800MW of solar power projects during its decade-long operations. That includes a 25MW plant developed in Lauta in Germany.

It also built Asia's first 30MW solar project in India's western Gujarat state, and the world's largest greenhouse in Sardinia, among other power generation projects including in the U.S. and U.K. The company was recognized as the largest solar developer in the U.K. in 2012 and 2013.

Hindustan Power is also set to enter Bangladesh with four solar projects of 25MW each in the country's Trishal region.

"The proposal to develop four 25MW solar project has been submitted to [the] government of Bangladesh and [the] required land agreement has already been signed," Jain said in a recent statement. "We will take these projects into construction in the next couple of quarters."

The company is "one of the early Indian players to focus on developing solar projects in the overseas markets," said Ratul Puri, chairman of Hidustan Power.

It has invested nearly 30 billion rupees so far. But the company will need a total investment of 100 billion rupees to reach a capacity of 2GW, he added.

"We believe that our successful foray will encourage more players from India to expand operations in international markets thereby allowing India to emerge as a solar powerhouse," Puri said.

here is company details.

 

NOTE :You need to login first to access this feature.