More public sector companies in India are now exercising the directions of the Central Government to step-up on the development of large-scale solar power projects.
The Neyveli Lignite Corporation (NLC), a lignite mining company in India, has floated a global tender for the development of solar power projects with total capacity of 260 MW (AC). The projects would be developed in sizes of 65 MW each. Two projects shall be located in the southern state of Tamil Nadu and two more will be located in the western state of Rajasthan.
As per a notice released by NLC, the company has managed to secure viability gap funding from the government, meaning the selected project developers will receive some funding support that can be used as equity investment or retirement of debt.
The company had announced, last year plans to set up 4,000 MW of solar projects across various states of India. The project would entail an investment of up to $4.6 billion. The proposed projects would be set up in the states of Tamil Nadu, Karnataka, Kerala, Telangana, and Rajasthan.
NLC commissioned a 10 MW solar power project last year, the company’s first. According to the company website, it is also developing a 25 MW solar power project in Tamil Nadu. A 51 MW wind energy project was also scheduled to be commissioned by the end of last year.
State-owned companies across India are under pressure to increase spending towards fulfilling corporate social responsibility. Additionally, the central government has also asked several public-sector companies to contribute towards the huge solar power capacity target of 100 GW by 2022. Coal India Limited, the world’s largest coal mining company, has been assigned a target to adding at least 1 GW solar power capacity.
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