The Indian State of Rajasthan, with 10,560MW of installed solar power capacity, will have an 800MW solar park in Jaisalmer developed through Rajasthan Power Generation Corporation. Rajasthan Solar Park Development Company, a Rajasthan Renewable Energy Corporation subsidiary, will build a 1,000MW solar park in Bikaner.
The Indian developer has refinanced its existing term loan of INR 23.50 billion (US$ 313 million) for the 600MW solar project at an interest rate of 7.2% per annum, fixed for 42 months.
State-owned power producers THDC India, NTPC, NHPC, and SJVN have committed investments to build 10 GW of renewable energy capacity each. Among private firms, Reliance plans 20 GW and Axis Energy Group 28 GW of solar projects and 4 GW solar module manufacturing facility.
The State-owned hydropower producer has proposed an investment of INR 50,000 crore (around US$6,683 million) to develop 10 GW of solar power projects in the State in the next five years.
The move is aimed at identifying chunks of land for solar plants and solar parks as the State government looks into the possibility of developing more capacity in the state and further increasing its ‘37.5 GW by 2024-25’ renewable energy generation target.
The solar plants are to be set upon the land available at four airport sites in the States of Delhi (2 MW), Madhya Pradesh (0.5 MW+0.5 MW), and Rajasthan (0.5 MW) under net metering.
Director Nidhi Gupta told pv magazine that the company had signed the agreement to invest INR 500 crore (US$67.2 million) in building a 120 MW solar park in the Bikaner district of the State. The solar park will provide plug-and-play infrastructure for captive solar projects.
The PV plant, in the Bikaner district of the state, is the largest PV power project in India owned and operated at a single location by a developer.
The company has landed a substation extension package to help strengthen power transmission from Bhadla Solar Park in the Indian State of Rajasthan. It shall also work on grid extension in Southern India.
The PV capacity is part of an overall 4 GW secured under the Solar Energy Corporation of India’s manufacturing linked auction.
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