Web Exclusive | January 2013
Aeon Renewable Energy to invest Rs 250 cr in 3 yrs
Chennai-based Aeon Renewable Energy Solution is to invest Rs 250 crore over the next three years on setting up 25 megawatt (mw) of solar power generation capacity in Tamil Nadu. The company is planning to establish its presence in the retail solar power generation solutions for domestic and industry for captive use.
Aeon is a newly-launched solar energy firm of Chennai-based Madurai Appu Chain of restaurants. The Group, which has been operational for almost 12 years now, has entered the solar energy industry at a time when the potential of the sector has increased with the government announcing the Tamil Nadu Solar Energy Policy 2012, envisaging the generation of around 3,000 Mw from solar energy in three years.
R Chandrasekaran, Chairman of Aeon Renewable Energy Solutions said that the company is planning to invest Rs 250 crore in three phases in the next three years to develop its presence in rooftop solar energy solutions market and to launch two mega projects with a total capacity of 25 mw.
He added that the investment would be from the promoters and funding from family, friends and associates, and the company might approach banks for further funds later.