Schneider Electric India Pvt. Ltd., the Indian subsidiary of France-based Schneider Electric SE, plans to invest approximately Rs. 3,200 crore in the coming three years as CAPEX. The company’s CEO & MD, Mr. Deepak Sharma shared this information while speaking with Press Trust of India (PTI). He indicated that this CAPEX will be invested in Renewable Energy (RE) business of the company.
Mr. Sharma said that the aforementioned CAPEX will be invested in nine states, namely, Uttarakhand, Gujarat, Telangana, West Bengal, Tamil Nadu, Karnataka, Himachal Pradesh, Odisha and Maharashtra.
Commenting on the renewable energy development, Mr Sharma said, “Our company is managing over 700 MW of renewable energy power purchase agreements and providing sustainable solutions. It includes on-site solar installations and the procurement of off-site solar and wind energy”. He further added that approximately 15% solar power installed in India runs on Schneider Electric solutions.