The Indian government is planning an excellent gift for the nation on its 69th Independence Day next year.
The Solar Energy Corporation of India is working to have the first phase of what is being dubbed as the world’s largest solar power project commissioned by 15th August 2016. SECI hopes that following auctions, 250 MW of solar photovoltaic power capacity would be commissioned in Madhya Pradesh.
The capacity would be a third of the total installed capacity planned for possibly the first ultra mega solar power project in India. A total of 750 MW capacity has been planned by SECI.
The government has reported that about 90% of the land required for the project has already been procured while the rest is in the process of being procured. The land to be used for the project is non-agricultural and barren.
According to reports, SECI is expected to launch the auction process in April this year, leaving prospective project developers with about a year to complete their allotted capacity.
The Indian government is likely to let the project developers choose between Indian-made or imported solar PV modules while reserving a small portion of the capacity to be commissioned using only Indian-made modules.
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Once completed, the project is expected to generate about 1.25 billion units of electricity every year offsetting about 1 million tonnes of CO2e emissions. Government officials hope that prospective developers would bid aggressively for the project and tariffs could be around ₹5 per kWh ($0.08 per kWh).
Last year, the World Bank announced that it would provide 49% of the investment required for the project at low interest rates. That loan could be around $375 million.
Welspun Energy currently operates India’s largest solar power project (151 MW) developed by a single company. The solar park at Charanka, Gujarat is India’s largest solar power project (with over 210 MW capacity) and has been developed by several companies.
Image Credit: Gujarat Power Corporation Limited