July 25 (Bloomberg) -- Infosys Ltd. plans to invest in 200 megawatts of clean-power plants by 2018 to meet the energy needs of India’s second-largest software services exporter.
The company will spend 14 billion rupees ($233 million) to set up solar, wind, biomass and hydropower plants, Vice President Rohan M. Parikh said by phone from Bangalore today.
The plants will generate about 300 million kilowatt-hours of electricity a year, equivalent to consumption at its 11 Indian campuses. The power will be fed into the grid, he said.
Information technology companies in India pay among the highest rates for electricity from the grid, when it’s available, and rely on expensive diesel generators during blackouts. Rising fuel prices have pushed power prices up by 40 percent on average since 2010, making solar cheaper for commercial consumers in New Delhi and Mumbai, compared with grid power, according to Bloomberg New Energy Finance.
Renewable energy sources are “economically viable now” if long-term fuel consumption costs are considered, Parikh said.
Infosys, which has installed 2 megawatts of photovoltaic capacity on its campuses, purchases 20 percent of its energy requirement from renewable sources, he said.
To contact the reporter on this story: Ganesh Nagarajan in Chennai at firstname.lastname@example.org
To contact the editors responsible for this story: Reed Landberg at email@example.com Indranil Ghosh, Ana Monteiro