Hyderabad-based BS Transcomm, which provides towers to telecom and power transmission companies, expects its off-grid renewable energy solutions business to contribute Rs 2 billion over the next 10 years.
According to Rajesh Agarwal, managing director, the company has received a letter of intent from Zamil New Delhi Infrastructure for 500 green energy sites, which will be installed in the next six months by their subsidiary Sugan Automatics.
He added that the company had tied up with Tata BP Solar for the solar panels, and is currently in talks with companies including Indus Towers, Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited.
Also, of the Rs 2 billion the company intends to raise through an initial public offering, Rs 900 million will be deployed towards doubling their manufacturing capacity to 2,40,000 million tonnes a year, and the remaining for clearing corporate loans and for other general and corporate requirements.
