SECI signs MoU with APGENCO and NREDCAP for Development of Solar Parks in Andhra Pradesh
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Start Date:-
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09-22-14
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End Date:-
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11-30-14 |
In a major boost to the development of Solar sector for achieving the ambitious target set by the Government of India for Solar Power development in the country, Andhra Pradesh Power Generation Corporation Ltd. (APGENCO), New and Renewable Energy Development Corporation of Andhra Pradesh Ltd. (NREDCAP) and Solar Energy Corporation of India (SECI) have entered into a Memorandum of Understanding (MoU) on 16th September, 2014.
The MoU was signed in the presence of the Chief Minister of Andhra Pradesh, Shri Chandrababu8 Naidu, and Shri Piyush Goyal, Union Minister of State for New and Renewable Energy, Power & Coal, by Shri Rajendra Nimje (MD, SECI), Shri K. Vijayanand (MD, APGENCO) and Shri M. Kamalakar Babu (VC and MD, NREDCAP).
About 2500 MW of Solar Projects is targeted in Andhra Pradesh, and land has been identified in the districts of Kurnool, Anantpur & Kadapa.
The MoU envisages collaboration and cooperation for Implementation of multiple Solar Parks, Ultra-Mega Solar Power Plants (UMSPP) and other Solar Power Plants through the setting up of a JV company. Whereas APGENCO and NREDCAP would be arranging the requisite land and clearances, SECI would be responsible for arrangement of funds, Project Management and subsequent Trading of the Power generated. The proposed JV would have 50% stake by SECI, 41% by APGENCO and 9% by NREDCAP.
This development is in line with the Government of India’s plan to set up large Solar Parks, each with capacity of above 500 MW, in different states of India. These Solar Parks are aimed to house multiple Solar Power Plants. They would provide earmarked land and all infrastructural facilities, including bulk power evacuation system, to developers, in order to save their efforts and time. UMSPPs, with individual capacities higher than 500 MW, are also being seen as a crucial element for bringing down the cost of Solar power through massive economies of scale.
Such projects are envisaged to become a model and bring in huge investments from the private sector. Being environment-friendly, these projects would enable states meet their Renewable Purchase Obligation (RPO) mandates as well as provide local employment opportunities.