Network services provider GTL Limited plans to invest Rs 1,400 crore over the next six months for developing and executing energy management solutions for telecom towers. In order to reduce the overall power consumption at these towers, the company is in the process of developing equipment such as ambient cooling devices and solutions that use alternative sources of energy.

Currently, India has about 2.5 lakh towers with 3.5 lakh tenants which is expected to increase to 4.5 lakh towers with nine lakh tenants in the next three years. Each tenant currently consumes about 3,000 litres of diesel every year on a shared tower.

The company has raised Rs 700 crore through non-convertible debentures (NCD) with a coupon rate of 8 per cent and has plans to go in for another round of NCDs for the remaining investments.