Specialised railway equipment manufacturer Stone India, a G. P. Goenka group company, has decided to get into solar power. The company board approved a decision to this effect at its meeting held here on Tuesday. The entry will be made through a special purpose vehicle, Solar Stone Private Ltd., created for this purpose recently.
Solar Stone plans to set up a number of solar farms at rooftop locations and vacant land also. It has submitted its initial proposal of setting up a one MW plant in West Bengal, for pre-registration under the Jawaharlal Nehru National Solar Mission Scheme which encourages ‘Rooftop SPV' systems.
In the medium-term, besides tapping such emerging opportunities, the Solar Stone plans to venture into manufacturing of photovoltaic modules and grid-connected converters. It is also eyeing the area of consulting and execution of turnkey projects.