Home » Finance » DVC seeks World Bank funding for 1,000 mw solar plan

DVC seeks World Bank funding for 1,000 mw solar plan

According to reports, Damodar Valley Corporation (DVC), owned jointly by the centre, West Bengal government and Jharkhand government, has lined up plans to reach up to 1,000 mw of solar generating capacity by 2022, which would entail a cumulative capital investment of nearly Rs 8,500 crore over this period and it is seeking a 30-year long-term World Bank funding to reach its goal, top DVC officials told Financial Chronicle.

DVC is anyway required to scale up its solar capacity to a minimum of 235 mw by financial year 2017, in line with its solar RPO (renewable purchase obligations) obligations for the existing distribution business of the company. The solar PV potential of the company in the command area is 410 mw across irrigation canals. DVC also has additional utilisation potential in terms of dams with a combined length of 16,538 meters, reservoirs with combined top of gate area of 362.92 sq km and possession of barren lands, TG hall roof-top etc.

Significantly, taking a cue to the success of 1 mw canal top solar power project set up by Gujarat state electricity board (GSEB) over 1 km long stretch of Narmada branch canal, DVC has already initiated 15 mw canal top solar power project on DVC canal, for which DPR has been done and EOI has been floated and NIT has also been floated. It is expected that the ordering for the project will be done by this month and the plant is expected to be installed by the end of 2014.

According to officials the proposed canal top solar power will eliminate use of additional land but will certainly have some additional cost implication, for which it is seeking long term World Bank financing. The estimated investment requirement for meeting the solar RPO obligation will be Rs 70 crore for financial year 2014, Rs 230 crore for FY15, Rs 600 crore for FY16, Rs 700 crore for FY17 and Rs 580 crore for FY18 respectively.

Comments are closed.

Scroll To Top