Goldstone Infratech Ltd has announced that it was foraying into the renewal energy space by setting up a 5 MW solar power plant and a production facility to manufacture photo voltaic modules for solar power generation.

The manufacturing facility, which will have a capacity of 40 MW per annum, will be located in Hyderabad, L P Sashikumar, Managing Director of Goldstone Infratech Ltd.

“With the government of India giving the importance that is due to renewable sources of energy, we at Goldstone Infratech Ltd decided that the time was ripe for us to enter the energy sector, via solar power generation,” Mr. L P Sashikumar said.

“The photo-voltaic modules will be manufactured and marketed to other solar energy developers globally. We believe the market for such modules is substantial,” Mr. L P Sashikumar said.