KLC Services Limited to invest $30 million into Andhra Pradesh Solar Energy project
HONG KONG - KLC Services Limited today announced that they will invest a minimum of $30 million into a solar and wind renewable energy project in India’s Andhra Pradesh region.
- (1888PressRelease) July 04, 2024 - KLC Services Limited’s Executive Board and the Indian Government recently signed an agreement to help India to increase its power generation capacity through green and renewable energy sources with the plan to achieve 600 giga-watts (GW) of clean, green and renewable energy by the end of 2030 in order to confront climate change.
KLC Services Limited’s Chief Investment Officer commented on the investment saying “India is a massive country with a massive population and their transition to renewable energy is one of the most critical transitions for the future of India and we are committed to supporting many more developing nations during this transition. We believe that this project will bring in international experience in deploying new technologies to assist India into adopting renewable energy sources.”
KLC Services Limited’s Chief Investment Officer also added “After a recent energy report, India has the capability to produce a capacity of more than 450 GW, of which the renewable energy (non-hydro) share is almost 33 percent (121.5 GW) and this project will help India to move forward with the nation of having sustainable universal electricity access, which is an extremely important milestone for achieving India’s energy objectives.”
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