Monday, August 12, 2013: Contracts have been signed by seven power providers and local government for collaboration on solar plants in Uttar Pradesh, India. According to The Economic Times, Letters of Intent have been shared with Jakson Power Solutions, Moser Baer Clean Energy, Sree Developers, DK Infracon, Refex Energy, Azure Surya and Essel Infra to set up the plants. The plants will have a combined capacity of 130MW.
An agreement has also been finalised by the state government, which will allow a public sector undertaking to produce 230MW of solar power in the region. The commissioning of the plants is supposed to take place within six months of the acquisition of land for the sites.
The company, Jakson Power Solutions has decided to make an investment to the tune of £8.5m within a year for the construction of a 10MW solar plant. Prior to this year, after a $36.5m investment from the government’s Jawaharlal Nehru National Solar Mission, the company had declared the commissioning of its first solar project, a 20MW facility in Rajasthan.
The company said that it was aiming to commission 100MW of solar across India within three years. In the previous month, there were reports that private equity investor, Blackstone was contemplating an IPO for Moser Baer, following an investment of $300 million for a stake in the company in the year 2010.
