Greentech Lead India: The UP government has announced big plans to invest in solar power sector.
The government is planning to sign agreements worth Rs. 2,300 crore with eight firms in the solar power sector on August 8, Times of India reported.
This is the largest investment in solar sector in the state after the government established Solar Power Policy 2013, according to the report.
On Thursday, UP New and renewable Energy Development Authority (NEDA) will sign an MoU with the National Hydroelectric Power Corporation (NHPC) for setting up a 100 MW solar power plant in Jalaun.
The 100 MW NHPC unit will be the largest single solar plant unit in the country, till date.
The government will also sign pre-purchase agreements (PPAs) on August 8 with seven power companies for total power generation of 130 MW. The state government will also agree to purchase power for 12 years. The rate of bidding ranges between Rs 8.01 and Rs 9.33 per unit.
While the state government will bear the cost of transmission infrastructure, the remaining overheads will be borne by the production companies. All power generated by the companies will be bought by the UP government for the first 12 years of setting up the generation plants.
Uttar Pradesh aims to achieve an installed capacity of 500 MW till March 31st 2017 under the Uttar Pradesh Solar Policy 2013.Earlier this year, the state government invited bids for 200 MW solar projects.
Recently the government also sanctioned nearly Rs 40 crore for installation of solar powered street lights in the state. The LED type street lights will not only be installed in various districts but also in over 2,000 Lohia grams where they are needed the most. In all over 11,100 solar street lights will be installed in the financial year 2013-14, officials said.
picture source: thehindubusinessline.com