The Cleantech division of the diversified Mahindra & Mahindra Group plans to install 50 MW of solar power generation capacity across five States at an outlay of Rs 750 crore.

The company is also looking at playing a consultancy role in the new and emerging solar power generation sector, offering engineering, procurement and construction (EPC) services, balance of plant equipment and off-grid solar solutions, including batteries.

The Business Head of Cleantech Ventures, Mr Vish Palekar, said, “The company has finalised plans for thrust into the solar power sector. We have taken up this initiative and hope to ground them within two years and also set up similar smaller projects in special economic zones now under development.”

“The company will fund these projects through internal accruals, debt and potentially consider bringing in a strategic partner for installing these solar generation units. Typically, each unit will be in the range of 5 to 10 MW. We have chosen two locations in Rajasthan, Gujarat, Maharashtra, Karnataka and Tamil Nadu for setting up these solar power generation plants, which will be grid-connected,” he said.

Speaking to Business Line at Solarcon India 2010, Mr Palekar said, “Plans are being worked out in the past 6-9 months and with necessary clearance of Government guidelines, we have decided to go big in this emerging sector. We will also use the group network of automotive dealers, particularly in rural areas, to offer inverters and battery back-up products to the farm community.”