Belgian firm to set up wind energy projects
Belgium’s Colruyt Group is planning to set up wind power projects in India, as it is focusing to enter renewable energy space in the country. The group, which is known for its retail stores, also has significant presence in the renewable energy sector and is focusing on the wind energy initially to expand its presence in India.
“We already have an installed capacity of 600 MW in renewable energy globally. Now we want to enter renewable energy space in India. Initially, we want to set up wind energy projects and are targeting wind power generation to the tune of 100-150 MW over the next two years. Investment to the tune of `800-1,000 crore will be made towards setting up wind energy projects.
Although the exact location of these projects has not been decided, they will be based in south India. A separate company will be formed for renewable energy projects in India and already, land has been acquired in Hyderabad to set up its office,” Hari Subramanian, head of India operations at Colruyt Group, told express in Hyderabad on the sidelines of an event.
Colruyt Group has a tech development centre in Hyderabad, which has a headcount of 425 and its foray into renewable energy sector is part of its strategy to expand its presence in India.“Although we are focused on both solar and wind, initially we will invest on wind. Renewable energy space is going through a correction phase in the country and has a lot of potential over the next 7-10 years. We’ll bring our capabilities to the eco-system and expand further,” said Subramanian, who also stressed that Colruyt is determined to work with start-ups in India.
“A lot of work is going on in start-ups in India making it exciting space. We are planning to focus on start-ups and work with them in the coming days. First we want to sense the mood in start-up space and collaborate with them and explore further,” added Subramanian.