Solar energy company Borg Energy has announced plans to invest $45 million in rural electrification projects in India within the next six months.
The rollout is to include smart-grid technology that will “empower domestic consumers and agriculturists”, according to the company.
In a statement, Borg Energy (Chennai, India) said it planned to power 18,000 homes in northern India in the next 150 days with Borg Astra Plus Home Series – a range of solar power plants designed specifically to meet the energy needs of domestic households.
Borg Energy will also deploy its Solar Farm Master Series Controller, which is aimed at generating power for irrigation projects in India.
“We will invest $45 million in India within the next six months,” said Boaz Augustin, Borg Energy’s managing director for the Asia-Pacific region. “We commit $25 million for rural electrification projects using solar power and $20 million will be used for EPC [energy, procurement and construction] in Uttar Pradesh, Tamil Nadu, Rajasthan, Bihar and Andhra Pradesh.”
“We have ambitious plans to install Borg power plants in 2.5 million households in various states of India over the next three years,” added Augustin.
Borg Energy claims to be developing a Indian retail network of 220 showrooms that will offer “experience zones” to Indian consumers.
According to Borg Energy’s data, there is currently a supply-demand energy gap of 12% in India, increasing the pressure on the country to cut energy usage.
Borg Energy is also planning to set up an R&D facility in 2016 focused on the use of nano technology in solar panels.