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British renewable company invests in India's solar PV market

Lightsource Renewable Energy has launched a £2bn investment in solar energy in India.

It has announced plans to design, install and manage more than 3GW of solar PV infrastructure in partnership with a number of Indian companies over the next five years – and in the process, create more than 300 jobs in India and the UK. More jobs will also be created in related industries, such as construction and steel fabrication, to facilitate installation of the new sites.

The first partner announced is SREI Infrastructure Finance, which is the leading infrastructure financing entity in India specialising in financing, development and advisory functions.

Lightsource chief executive Nick Boyle said: “India will be a key market for [us] in the future. We are excited to be working with SREI, our first partner. Together we will be contributing towards the Indian government’s and our individual companies’ ambitions.”

UK trade and investment minister Lord Maude said: “The UK and India have a strong, successful trade relationship. Prime Minister Modi’s visit to the UK this week demonstrates our commitment and ambition to collaborate further.

“Both countries have a wealth of talent and expertise to share, and I am pleased to see so many UK and Indian companies announcing deals this week. By working in partnership we can deliver real benefits and job creation for both of our economies.”

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