Adani Power, one of the leading private power generation companies in India, has signed an agreement to set up the country’s largest solar power park.
Adani Power has entered into an agreement with the state government of Rajasthan to set up a 10 GW solar power park, with the entire capacity expected to be based on photovoltaic technology. Earlier this year, Adani Power signed a memorandum of understanding with the Rajasthan government for setting up this project. The government and the company have now set up a 50:50 joint venture, Adani Renewable Energy Park Rajasthan, for the purpose of setting up the power plant.
When fully commissioned, the project will generate over 16.6 billion kWh every year and will offset about 15 million tonnes of CO2 emissions every year.
The total investment for setting up the project is estimated at around $9 billion. The integrated solar park will have solar module manufacturing units in addition to the power generating units. Adani Power had earlier signed an agreement with SunEdison to set up India’s largest solar modules manufacturing facility with an estimated investment of $4 billion.
The solar park will be part of the Rajasthan government’s medium-term target to set up 25 GW of solar power capacity by 2020. Project developers have already pledged to set up 40 GW of solar power capacity in response to the state government’s policy. Last week, another private sector company, Essel Infraprojects Limited, formed a joint venture with the Rajasthan government to set up 5 GW solar power capacity through 2 separate solar power parks.
The Indian government is planning to set up 25 ultra mega solar power projects with total generation capacity of 20 GW. The projects pledged to be implemented by private companies in Rajasthan are not expected to be covered under this program of the central policy.