Embassy Group, a leading construction conglomerate is planning to set up a 200 MW solar power project in Karnataka. A new company in the style of 'EMBASSY-ENERGY Pvt Ltd' has been floated to implement the project. The plant will come up in two phases of 100 mw each and is expected to be ready by 2017. The solar project will be built on the open access module and will be funded by 70% debt and 30% equity. As of October 2015, the company is in the process of applying to the ministry of renewable energy for various approvals.