Infosys plans 50-MW solar park in Karnataka - report

Jun 17, 2014 - Indian software giant Infosys (BOM:500209) intends to build a 50-MW solar farm in the southwestern state of Karnataka, marking its entry into the renewable power sector, the Economic Times said today.

The company has already held negotiations with the state government for the project and plans to acquire land on its own, Karnataka's energy minister DK Shivakumar told the newspaper. Infosys estimates the construction costs for the scheme, including land acquisition, would range between INR 3.6 billion (USD 60m/EUR 44m) and INR 3.8 billion.

Once completed, the proposed solar plant is expected to generate about 84 million kWh of electricity per year, which will supply Infosys offices in Bangalore, Mysore and Mangalore. It will meet about 90% of the software group’s total power demand.

A formal proposal is to be filed with the government once the company buys the land, Infosys’ executive vice president Ramadas Kamath was quoted as saying. He noted the park may be commissioned in a year.

Infosys will become the first software firm in India to produce its own power, according to the report. At present, the company’s power consumption is about 95 million kWh annually.

(INR 100 = USD 1.658/EUR 0.122)

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