Hong Kong based CLP Holdings to invest $2 billion in Gujarat to increase its capacity by 2000MW

Hong Kong based CLP Holdings to invest $2 billion in Gujarat to increase its capacity by 2000MW

Hong Kong’s biggest electricity provider ‘CLP Holdings Ltd’, have announced its plans to set up a 2000MW power plant to boost its India capacity by investing about $ 2Bn.

2,000MW power plant will come up at Paguthan (in Bharuch district of a progressive state of Gujarat).

CLP Holdings chief executive officer (CEO) Richard Lancaster, made the announcement during his attendance at global CEO conclave, Vibrant Gujarat Global Summit.

The shift in investors’ confidence is due to a change in government at the centre, CLP Holdings, which two years back threatened to withdraw due to fuel shortage; has now decided to go ahead with the investment as big as $2Bn with an eye on rewarding future in India.

The company is also planning to set up solar power plants in the country and working towards it. Since the current government in India has reset its solar energy target from 20,000MW capacity by 2022 to 100,000MW. This policy decision will play a key role in India’s efforts to assure sufficient power supply at affordable price. This would eventually result in driving its economic engine and also to make its manufacturing competitive.