Lanco Infratech, an Indian power generation company involved in EPC and solar among others, is reportedly seeking private equity investors to help the company to expand its PV capacity.
According to Bloomberg, the company requires funds to add 500MW of PV capacity every year in the next three years as coal availability becomes more limited and the price of fuel imports rises.
The news site also adds that Lanco is expecting to have added 90MW of PV capacity by the end of its financial year which ends in March. This figure includes the delayed 75MW PV project in the Indian state of Maharashtra which it won in May 2011. The company also has a 100MW solar thermal project under construction in the state of Rajasthan which has also been delayed by a year.
In terms of manufacturing, Lanco is building a plant which will have the capacity to produce 1,800 tons of polysilicon, 100MW of ingots and wafers, and 75MW of modules a year. However, the company is expecting to increase the module production capacity to 250MW in three years.