Web Exclusive | March 2013
RPG Group enters solar biz
The Rs 15,000 crore Harsh Goenka-led RPG Group is foraying into the solar energy business. The company said its power transmission unit KEC is set to bid for engineering, procurement and construction contracts to install solar plants and wind farms. RPG Group, which is already in talks with developers, plans to launch its solar EPC business next month.
KEC recently received a 2A rating from ICRA for its performance capability and financial strength to execute solar EPC projects. With this certification, KEC hopes to get the ministry of renewable energy's approval to bid for contracts to install solar plants this month itself.
The Group aims to one of the top three players in the renewable energy business in India. The size of the renewable EPC business in India is estimated to be Rs 14,000 crore per annum.