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With an aim to become the largest renewable power company in India, Anil Ambani-promoted Reliance Power and the Government of Rajasthan (GoR) have signed a memorandum of understanding (MoU) to develop 6,000 MW of solar power projects in the state over the period of next 10 years.
In November last year, Reliance Power commissioned its 100-megawatt concentrated solar power (CSP) project at Dhirubhai Ambani Solar Park at Pokaran in Jaisalmer, Rajasthan. The company invested Rs 2,100 crores in the plant, which its claims to be the world's largest CSP project based on compact linear Fresnel reflector (CLFR) technology, provided by Areva Solar - the US subsidiary of Areva SA of France.
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Rajasthan Sun Technique Energy Private Limited, a wholly owned subsidiary of Reliance Power, was awarded the CSP project in December 2010, based on international competitive bidding conducted by NTPC Vidyut Vyapar Nigam Limited (a subsidiary of NTPC Ltd).
The CSP plant is expected to generate about 250 million kilowatt hours of clean and green energy annually, equivalent to consumption of 2,30,000 households, contributing to the nation’s goal of energy security. The project will reduce India’s CO2 emissions by about 2,40,000 tonnes per year which is equivalent to CO2 sequestered by 6 million tree seedlings grown for 10 years or taking 80,000 cars off the road..
The project is the largest investment undertaken by any private sector entity in CSP technology in India. The project is financed through debt from multilateral agencies like Asian Development Bank (ADB), Export Import Bank of the United States, Financerings Maatschappu Voor Ontwikkelingslanden NV (FMO), Netherlands and Axis Bank.
Reliance Power has an operating portfolio of nearly 6000 MW including 185 MW of renewable energy. The company operates two solar plants in Rajasthan of 100 MW and 40 MW, respectively. Its green portfolio also includes wind power project of 45 MV based in Vashpet, Maharashtra.