HCC to develop renewable energy park in Gujarat

Construction major Hindustan Construction Co. Ltd., signed a Memorandum of Understanding with the Gujarat government to set up a renewable energy park.

The park is at its proposed waterfront city at Dholera Special Investment Region, Ahmedabad district, and is being developed on the lines of Lavasa.

This is the first time that the company is entering into renewable energy business with an estimated investment of US$2.65 billion. This amount is over and above the US$8.86 billion already committed towards the proposed waterfront city in Dholera.

The energy park will be set up on around 600 acres within the land parcel offered for the proposed waterfront city at Dholera. It will offer a platform for global leaders looking forward to set up research, development, consultancy and manufacturing of components businesses in India in renewable energy segments such as solar, geo-thermal, wind and bio-mass.

The company said the project would act as an internal demand driver for the work component of Waterfront City at Dholera and would create around 17,000 employment opportunities in the leading organizations operating in the renewable energy segment.