Convergence Energy Solutions Services (CESL), a state-owned energy company, plans to achieve 8.5 gigawatt (GW) of solar power capacity over the next five to six years, its Managing Director Mahua Acharya told ETEnergyWorld.
“We are looking to raise $200 million, each, for supplying electric buses, two-wheelers, and setting up solar plants,” she added.
Recently, CESL had called for bids to buy 100,000 electric three-wheelers at an estimated cost of Rs 3,000 crores. Acharya said that the firm plans to raise $100 million for this procurement. Regarding CESL’s tender for procurement of 60 MW solar modules in Maharashtra, she informed that it has seen participation from new players.
“We have witnessed participation from new players, which indicates good traction amongst developers for the decentralised solar tender,” she added.
Acharya said that the company is actively investing in energy storage solutions and is at the forefront of policy development and recommendations to enable energy storage solutions for the Indian markets.