Aug 26, 2013 - Indian state-run firms Hindustan Salts Ltd and Bharat Heavy Electricals Ltd (BOM:500103), or BHEL, will be among the five central public sector undertakings (CPSUs) to develop the recently unveiled 4-GW solar complex in Rajasthan.
The project was presented by India’s Ministry of New and Renewable Energy last week, while local daily The Hindu Business Line provided more clarity on Sunday. It said that Hindustan Salts will be the one to provide land for the huge solar complex. Apart from BHEL, which makes solar cells and modules, the project partners also include PowerGrid Corp, Satluj Jal Vidyut Nigam and Solar Energy Corp, according to the report. Rajasthan Electronics and Instruments will take care of the operations and maintenance at the site.
Business Line quoted a knowledgeable informant as saying that the initial 1-GW phase of the project would require a total investment of INR 75 billion (USD 1.17bn/EUR 873m). The other 3 GW will be installed in six 500-MW phases, according to the paper’s source.
The 4-GW solar plan is a joint initiative of India’s Heavy Industries Ministry and the Ministry of New and Renewal Energy. The Union Cabinet needs to greenlight the plan to establish a special purpose vehicle for the solar project.
Business Line cited statistics by the Bureau of Investment Promotion of Rajasthan, according to which the northern state is extremely suitable for solar project development as there is enough desert land and 300 to 330 clear sunny days annually with an average daily solar incidence of 5 kWh-7 kWh per sq m.
(INR 100 = USD 1.557/EUR 1.163)
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