HZL plans solar power projects worth Rs 425 cr by next yr: CEO
Hindustan Zinc on Sunday said its 15 MW solar projects in Rajasthan will get commissioned this month, and it is also planning to invest Rs 425 crore for 85 MW power plants by next year.
"We are in the process of putting up 15 MW (rooftop solar power plants) which will get commissioned before March 31. We would be using 15 MW for captive use," Hindustan Zinc (HZL) CEO Sunil Duggal said in an interview.
The Vedanta Group firm has already invested 75 crore in 15 MW solar power projects, Duggal said, adding that the company is planning to pump in Rs 425 crore for 85 MW power plants.
"It is not possible for me to give you exact timeline at this point of time. We will put up (85 MW solar plants). We will put in next one year," Duggal said.
The company is yet to zero-in on the locations where the 85 MW power plants would be set up, the CEO said, adding that he is of view that the projects should be either set up at its own location or in the vicinity, so that HZL can utilise the power generated from the plants for its own consumption. "Our team is evaluating (the locations). The plants should be either at our location or at the vicinity of our location," Duggal said.
The company's board had earlier approved setting up 100 MW solar power projects.
HZL is not looking at expansion in the wind power space. "Wind power we are not looking today because now the emerging trend is that we may go for solar," he said.
The company led by billionaire Anil Agarwal already produces 474 MW of thermal power and 274 MW of wind energy.