SECI signs MoU with KREDL for Development of Solar Parks in Karnataka
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Start Date:-
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01-08-15
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End Date:-
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01-31-15 |
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, Solar Energy Corporation of India (SECI) and Karnataka Renewable Energy Development Ltd. (KREDL) have entered into a Memorandum of Understanding (MoU) on 7th January, 2015.
The MoU was signed in the presence of the Addl. Chief Secretary, Energy, Karnataka, Shri P Ravi Kumar, and Shri Tarun Kapoor, Joint Secretary, Ministry of New and Renewable Energy, and Senior executives of World Bank by Dr. Ashvini Kumar (MD, SECI), Shri G. V. Balaram (MD, KREDL).
An initial capacity of 1600 MW of Solar Projects has been targeted in Karnataka Solar Parks.
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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 to meet their Renewable Purchase Obligation (RPO) mandates as well as provide local employment opportunities.