New Delhi, July 24 - Renewable energy player Astonfield will invest around $2 billion in India over the next five years to generate about 1,000 MW of power, most of it from solar sources, a top official said Friday.

'We are going to make an announcement in the next 30-60 days. It will be a billion dollar initial investment on photo-valtics,' said Ameet Shah, co-chairman of Astonfield Renewable Resources.

Photo-valtics technology is being used to generate solar energy.

Astonfield Renewable is the Indian unit of the US-based infrastructure major Astonfield Management.

Much of the proposed $2 billion investment will be for building solar-powered projects with a capacity of 500 MW, he said.

'It will be the largest single investment in the renewable energy sector in India,' Shah added.