Desert-based Solar Generation
IN BRIEFAdani Enterprises on 9 February signed a memorandum of understanding (MoU) with the Rajasthan government to jointly set up India's largest solar park of 10,000 MWe over the next 10 years, at an estimated investment of about US6.5 billion. Out of this, the company will set up a solar power project of 5000 MWe on its own in the next five years.
Sources said that, while the Rajasthan government would provide the required land for the utility-scale solar project as part of its equity, the entire investment would be made by Adani Enterprises. The solar park will produce clean and green energy of about 16,644 million units, furthering India's goals for clean, renewable energy independence.
The flagship company of the Adani Group, as part of a JV with US-based SunEdison, will also jointly invest US 4 billion for setting up India's largest solar photovoltaic (PV) equipment-making plant at Mundra in Gujarat. The investments in the solar energy sector will include solar power generation projects and a manufacturing unit for solar PV module and power evacuation systems.
India plans to become a global leader in renewable energy, with a focus on solar power generation. The Ministry of New and Renewables (MNRE) has announced an ambitious target of installing 100,000 MWe of solar power capacity by 2022, from the present 3000 MWe. It has also issued guidelines for setting up at least 25 solar parks, each with a capacity of at least 500 MWe, across India.
The rapidly falling cost of solar power, which is expected to reach parity with conventional energy by 2017, has created huge market opportunities in India. The potential of the solar energy market in India is expected to be over US100 billion by 2022. Besides SunEdison, US-based First Solar, Canadian Solar and China's JA Solar are among the companies keen to expand into India.
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