India`s third largest information technology services company, Wipro plans to make custom-designed solar and other renewable energy plants by making entry into the green energy technology business.

The Bangalore company, which makes different products from soaps to computers, is in the process of setting up a group for the renewable energy business through which it will provide customized solutions in different segments, which includes solar, small turbines, biogas, biomass fuel and geothermal energy systems.

Anurag Behar, managing director of Wipro Infrastructure Engineering Ltd, stated, “We are at a stage of exploring various concepts and renewable energy is one of them.”

The company will be looking for shareholder approval for entering the renewable energy business at its annual general meeting on Jul. 16, 2008.

Wipro’s foray into the business comes at a time when renewable energy, in particular, has strengthened investor attention the world over as oil prices reached around $120 (Rs 5,088) per barrel.

Shares of the company, on Friday (May 16), gained Rs 5.25 to end at Rs 508.85 on the Bombay Stock Exchange (BSE). The total volume of shares traded was 326,660.