Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

Two Leading Indian Oil Refineries Plan 1 GW Solar Park

Originally published on CleanTechies.

Indian downstream oil companies are the latest to express interest in developing large-scale solar power projects to meet electricity demand.

Two of the leading oil refining companies in India — Indian Oil Corporation and Oil India — are planning to set up 1 GW of solar capacity in state of Madhya Pradesh to power their operations. The capacity will be set up in the form of a solar park, which is becoming increasing popular in India these days, and will help the government-owned companies meet their renewable purchase obligations.

The plan by the two companies seems to be in line with similar announcements by other public sector companies, including Coal India, NALCO, Indian Railways, and Neyveli Lignite Corporation. The central government has directed several entities to set up large-scale solar power projects on surplus land.

The government also recently launched its ‘solar zones’ policy. As per the policy, ten zones of 10,000 hectares each will be identified across the country for setting up an estimated 25 GW of solar PV capacity. The land will be offered to interested project developers to set up large-scale solar projects. The oil refineries may use this new policy to set up their solar parks.

Over the last few months, several entities across the country have express intentions to source electricity from solar projects. With the steep fall in tariff bids, they hope to sign long-term power purchase agreements (PPAs) with solar projects and bypass rising coal-based power costs. Solar PPAs will also help them fulfill their renewable purchase obligations.

Reprinted with permission.


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

An avid follower of latest developments in the Indian renewable energy sector.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Advertisement

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

EV Sales Charts, Graphs, & Stats

Advertisement

Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Power

The Indian government has announced a new incentive scheme to boost manufacturing in the solar power sector. Through this scheme, the government plans to...

Clean Power

One of India’s largest renewable energy generation companies, Adani Green Energy, has reported stellar financial performance during the first quarter of this year. According...

Clean Power

One of India’s largest renewable power companies, Tata Power Renewable Energy, has secured the rights to develop a large solar power project. According to...

Agriculture

The Indian state of Maharashtra has issued a tender for the installation of 1.3 gigawatts of solar power projects. According to media reports, the...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.