Areva, the France based energy company, plans to set up solar power projects
in India. The company plans to float two subsidiaries for channelising
investment to the tune of $3 billion (approx Rs 13,300 crore) in solar power
generation.
The company is in discussion with two financial institutions for forming a JV
to set up 1,000 MW solar power capacity over the next five to seven years. The
projects, not under the purview of the National Solar Mission programme, are
likely to be developed under PPAs with state governments.
Besides, Areva proposes to set up a fully-owned company for doing engineering
and construction work to build solar islands (artificial membranes for the
placing of solar panels) and turbines.