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Nod to joint venture for solar power project

According to reports, the Uttar Pradesh cabinet on Thursday gave its approval to establish a joint venture company of the Uttar Pradesh New and Renewable Energy Development Agency and National Hydroelectric Power Corporation to tap the solar energy potential of the state.

According to the official statement released by the state government, it has also been decided that a memorandum of understanding would be signed between the two agencies.

The 100 MW capacity solar power plant would be based in Kalpi of Jalaun district. The UPNEDA will be making available 267.47 hectare of non-agricultural land for this purpose and the power plant will be installed by National Hydroelectric Power Corporation. The total cost incurred in the project is in the vicinity of Rs 400 crore and the project is expected to become operational in a time span of 14-15 months, after the signing of the MoU.

In the first phase of the solar power project, 111.32 hectare of land would be utilized to establish a 50 MW capacity power project.

The share holding in the proposed joint venture company would be between UPNEDA and NHPC. For the sale of the power produced by the joint venture company, various models have been short-listed, and the joint venture company would be free to choose the power sale model for itself.

In another decision, the Uttar Pradesh Cabinet has also approved the selection of seven companies on the basis of competitive tariff based bidding for the 200 MW power capacity under UPNEDA’s Solar Energy Policy-2013 after receiving the single coated tariff. Further action in this regard would be taken by UPNEDA.

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