Six public companies team up to set up world’s largest solar plant

Six public companies team up to set up world’s largest solar plantSix public companies on Wednesday signed a memorandum of understanding (MOU) for setting up the world's largest single-location solar power project in Rajasthan.

The joint venture project will be led by state-run BHEL. The remaining five participants are: Solar Energy Corporation of India (SECI), Sambhar Salt Ltd (SSL), Power Grid, Satluj Jal Vidyut Nigam (SJVNL) and Rajasthan Electronics & Instruments Ltd (REIL).

BHEL will have equity participation of 26 per cent in the JV, while SECI, SSL, Power Grid will have equity participation of 16 per cent each. SJVNL will have equity participation of 3 per cent.

The project was conceived in August 2013. So it took nearly five months for the project to come to the stage of MoU, which will now go to the cabinet for approval.

Praful Patel, minister of heavy industries & public enterprises, said, "The memorandum of understanding (MOU) signed today will need to get the approval of the Cabinet."

The planned green-energy project aims to develop a 4,000-MW ultra mega solar power generation plant, which will be the world's largest single-location solar power project. The Solar photo-voltaic (PV) power plant will use crystalline silicon technology-based PV modules, which will generate estimated 6,400 million units of energy per annum.

The massive project will be developed in different phases in the next 7-8 years, with the first 1,000 MW-phase planned to be developed in around three years.