A joint venture company (JVC) formed by a consortium of leading energy companies in India will set up an Ultra Mega Solar Power Project (UMSPP) of cumulative capacity of 4,000 MW in Sambhar Lake area near Jaipur, Rajasthan.
The consortium consists of Bharat Heavy Electricals Limited (BHEL), Solar Energy Corporation of India (SECI), Sambhar Salts (SSL), Power Grid Corporation of India Limited (POWERGRID), Sutlej JalVidyut Nigam Limited (SJVNL) and Rajasthan Electronics and Instruments Limited (REIL).
The JVC will be incorporated as a public limited company under the Companies Act with a registered office in Delhi/NCR.
BHEL will own 26 percent in the JVC, while SECI gets 23 percent, SSL 16 percent, POWERGRID 16 percent, SJVNL 16 percent, and REIL 3 percent proposed equity participation in the JVC.
The land for the project will be provided by SSL whereas the equipment will be supplied by BHEL. Power evacuation is managed by POWERGRID and the sale of electricity generated is the responsibility of SECI. Project management is undertaken by SJVNL while O&M will be looked after by REIL.
Expecting to get completed over a period of seven years, the plant shall be built in two phases. Phase I will produce 1,000 MW and the remaining 3,000 MW will be completed in different phases.
The production potential of the plant is estimated to be 6400 million units of electricity per year, with a plant life of 25 years. It will help reduce carbon footprint by over 4 million tons per year.