SECI signs MoU with IREDA for Development of 30-50 MW Solar Projects
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Start Date:-
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10-09-14
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End Date:-
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11-30-14 |
In a significant development for the development of Solar sector for achieving the ambitious target set by the Government of India for Solar Power development in the country, Indian Renewable Energy Development Agency Ltd. (IREDA) and Solar Energy Corporation of India (SECI) have entered into a Memorandum of Understanding (MoU) on 20th September, 2014.
The MoU was signed in the presence of Shri Upendra Tripathy (Secy, MNRE) by Shri K S Popli (CMD, IREDA) and Shri Ashvini Kumar (Director (Solar), SECI) on the occasion of SECI’s third foundation day.
A Solar Project of about 50 MW of is initially targeted to be installed, followed by more Solar and Solar –wind Hybrid projects that would be executed by SECI on turnkey basis.
The MoU envisages collaboration and cooperation for project implementation. Whereas IREDA would be the project owner, SECI would execute them on turnkey basis.
The project(s) are envisaged to come up in the proposed Solar Park in Anantpur, Andhra Pradesh.
This development is in line with the Government of India’s plan to set up more Solar Projects by Public Sector Units (PSUs) throughout India.
Such projects are envisaged to give more confidence to financial institutions for extending long term finance to Solar sector, as well as enable the companies to save on taxes. Being environment-friendly, these projects would enable states meet their Renewable Purchase Obligation (RPO) mandates as well as provide local employment opportunities.