R – Power plans to invest over Rs. 600 billion in Renewable Energy

Possibilty of setting up Concentrating Solar Plant by R- Power
Anil Dhirubhai Ambani Group (ADAG)-promoted Reliance Power (R-Power) is planning to invest over Rs 600 billion (Rs60,000 crore) in renewable and alternative energy resources such as hydroelectric, wind, solar and fuel cell-based power.
At the AGM of the company, Mr. Anil Ambani, the Chairman said, “Recent initiatives announced by the Government of India for Grid Interactive Multi-Megawatt Solar Thermal Power had given a boost to the solar power market in the country”. Adding, he said that R-Power is considering the possibility of setting up a one-of-its-kind, 100 MW grid interactive concentrating solar power (CSP) plant through an exclusive alliance with a technology provider.
Plans in other renewable energy sector include 500 MW of wind power over the next 3 years, and about 2000MW from hydroelectric energy
The global financial crisis would not affect the company's fund-raising plans as its balance sheet was well capitalised through money raised from its recent initial public offer (IPO). The company had mobilised around Rs 11,500 crore through the IPO.