Borg Energy to invest $ 45 m in India

Borg Energy, a solar power solutions provider and a subsidiary of US-based Borg Inc, on Friday announced plans to invest $ 45 million (Rs. 279 crore) in India on projects including a rural electrification programme during 2014.

The company, which entered the country last year, is in advanced discussions with some North India States for a rural electrification programme. This project is expected to cost about $25 million, Borg Energy India's Managing Director (Asia Pacific) Boaz Augustin Jr. told reporters here.

The company said it was also looking to invest $20 million for various engineering, procurement and construction (EPC) projects. It said in the long term, plans are on the anvil to set up an R&D plant in the country. The company has introduced smart grid technology-based micro solar power plants in the North Indian market. These plants have the potential to save up to 60 per cent of household power bills, the firm said.  

Borg Energy, a solar power solutions provider and a subsidiary of US-based Borg Inc, on Friday announced plans to invest $ 45 million (Rs. 279 crore) in India on projects including a rural electrification programme during 2014.

The company, which entered the country last year, is in advanced discussions with some North India States for a rural electrification programme. This project is expected to cost about $25 million, Borg Energy India's Managing Director (Asia Pacific) Boaz Augustin Jr. told reporters here.

The company said it was also looking to invest $20 million for various engineering, procurement and construction (EPC) projects. It said in the long term, plans are on the anvil to set up an R&D plant in the country. The company has introduced smart grid technology-based micro solar power plants in the North Indian market. These plants have the potential to save up to 60 per cent of household power bills, the firm said.