Saturday, March 01, 2014: Solar Energy Corporation of India has announced to set up a 1,000 MW solar park in the Mahboobnagar district of Andhra Pradesh.
Solar Energy Corporation of India (SECI) has reportedly announced that it will set up a solar photovoltaic (PV) power generation park with 1,000 MW of capacity, on a land area of 5,000-acre in the Mahboobnagar district of Andhra Pradesh. The project will be build on an entailed-outlay of Rs 80 Billion to Rs 100 Billion.
ECI is the nodal agency for the implementation of solar power projects in India. Rajendra Nimje, the managing director of SECI said, “The entire capacity will come up over the next 18 to 24 months. The site identified by the Mahboobnagar collector will be made ready with necessary infrastructure with an initial outlay of Rs 600 crore,” in a Hindu Business Line report.
This project is located in the Telangana region of Andhra Pradesh. The Corporation has signed an agreement with Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for the allotment of the land. The basic infrastructure will be ready within five to six months, while, developers will be selected through competitive bidding.
The solar units under the project will be modular, with 10 MW and above capacity. The recent bidding process that comes with viability gap funding depicts the tariffs offering at Rs 5.5 per unit.
Furthermore, SECI has joined hands with Japanese lending agency, JICA for the initial infrastructure and it plans to provide loans at lower interest rates for the developers. The likely offering may be at 4 to 5 per cent, through various agencies like the World Bank, Asian Development Bank, and also through the Clean Energy Fund.
Nimje confirmed that SECI has signed various such agreements for setup of other solar parks. SECI signed a deal “for a 4,000 MW solar PV park in Rajasthan, which will be amongst the biggest solar parks in the world and are also planning at least four more solar parks to be located in Odisha, Tamil Nadu, Rajasthan and another one possibly in Andhra Pradesh,” he said in the same report..
SECI has established projects, which crossed 100 MW mark, individually, across the country. The organisation aims to target of 10,000 MW of solar capacity by 2017.
