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News Brief | March 2013

Aeon to invest Rs 250 cr in solar power plants

Appu Chain of Restaurants Group's Aeon Renewable Energy plans to invest about Rs 250 crore as part of its strategy to become a major player in the solar power industry. The company aims to attain leadership position in the domestic household market by setting up a solar power plant in Tamil Nadu with an investment of Rs 250 crore in a phased manner, R Chandrasekaran, chairman, Aeon Renewable Energy said. He added that the firm extends its business vertical to solar energy along with an existing restaurant chain of business. It will be setting up a 25 MW solar power generation plant at Pudukottai and Virudhunagar in Tamil Nadu. He also mentioned that the company would initially operate through 150 dealership networks across the country. The proposed investments would be raised through financial institutions and by promoters.
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