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Six public sector companies, led by largest power equipment manufacturer Bharat Heavy Electricals Ltd (BHEL), will on Wednesday sign an initial agreement to float a joint venture to set up the country’s first solar-based 4,000 Megawatt Ultra Mega Power Project (UMPP) in Rajasthan.
The Rs 30,000 crore project would be developed at a part of the 18,000 acre land in possession of Hindustan Salts Ltd at Sambhar in Jaipur. The venture is part of a bigger plan by the government to set up four such large-sized renewable energy projects to cut the country’s carbon footprint.
The JV partners include BHEL with 26% stake, Solar Energy Corp (23%), Powergrid Corp, Satluj Vidyut Nigam and Hindustan Salts (16% each) apart from Rajasthan Electronics and Instruments (3%).
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The JV would develop the first phase -- 1,000 Mw -- of the project on Engineering, Procurement and Construction (EPC) basis over three years. BHEL would supply the solar cells and modules for this phase. The company is planning to set up a 500 mw facility in Maharashtra.
Solar Energy Corporation will be the sole authority to sell the power produced from the project. The UMPP is expected to be completed in seven years.
