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Bollywood actor Ajay Devgan to invest in 25MW Solar PV project in Gujarat

Gujarat is the first state in India to come out with a comprehensive  solar policy with an ambitious  target of installing 1000MW solar power by the end of 2012 and 3,000 Mw in next five years.

The state has been the first to sign PPA’s Solar energy implementation in India and has been in a PPA signing spree with  about 934MW of PPA already being signed . However the developments have been rather slow and only one of the 5 developers who were supposed to finish the projects by 2010 December has done so successfully.

Bloomberg was the first to point this out and has reported earlier this month that delayed solar-power plants face fines as Gujarat sets precedent. A common complaint among various players in the ecosystem including EPC players, vendors, inverter manufacturers etc.,  is that developers are waiting and watching and in discussions all the time without making the commitments as deadlines have been rather flexible so far.

However since this story by Bloomberg and the announcement of penalties by the Gujarat government there have been a number of announcements regarding project developments.

This  includes Sandland Real Estate for their 25MW project and Ganeshvani Merchandise Pvt. Ltd. for their 5MW. Both these developers had appointed  Crisil Risk & Infrastructure Solutions Ltd. as their consultant to manage their process and bids.

Now according to reports, bollywood actor Ajay Devgan will invest in a solar power project in Gujarat, helping the western state join its neighbours Rajasthan and Maharashtra in attracting star power into renewable energy, a government official said.

Devgan will invest in the 25mw plant in partnership with Mumbai-based Roha Group, the official said, requesting anonymity. The cost of the proposed project is estimated at Rs 400 crore. Roha Group chairman Ramakant Tibrewala could not be contacted for comment. Devgan had expressed his willingness to invest in Gujarat’s solar power in June 2010, when he met Chief Minister Narendra Modi during his visit to promote the movie Rajneeti, the report adds.

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