India is getting ready to start construction of its ultra mega solar power project in Rajasthan, which is expected to be the largest solar power plant in the world.
The 4000 MW proposed project has participation from six PSUs. A joint venture (JV) company will be formed with equity from BHEL (26 percent), Solar Energy Corporation of India (23 percent), Power Grid Corporation of India (16 percent), SJVN, Sambhar Salt Ltd. (SSL- 16 percent) and Rajasthan Electronics & Instruments Limited (REIL -3 percent) to implement the first phase of the project.
The project is carried out by the Department of Heavy Industry (DHI). It will be situated in the 23,000 acre area of SSL, a subsidiary of Hindustan Salts Limited, a public sector enterprise.
An agreement on this project was signed on Wednesday and cabinet approval will be sought shortly, said Praful Patel, minister of heavy industries and public enterprises.
The project will be completed in two stages in seven to eight years, the ministry said. The first phase of 1,000 MW is planned to be set up in about three years. The other 3,000 MW will be set up in subsequent phases.
An investment of Rs. 7,500 crore will be envisaged in the first phase, said BP Rao, chairman and MD of BHEL, in New Delhi.
The mega solar plant has an estimated plant life of 25 years and is expected to supply 6,400 million units of energy per year and help reduce carbon dioxide emissions by over 4 million tons per year, officials said.