NHPC to build Rs 400-cr solar project in UP

NHPC Limited, the hydro power generation company, is planning to set up its first solar power project in Uttar Pradesh with an estimated investment of Rs 400 crore. NHPC Limited has signed a promoters’ agreement with Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) on October 17, 2014 in Lucknow for setting up a joint venture company (JVC) for implementation of solar power projects in Uttar Pradesh.
 
The agreement was signed by Raj Kumar, Executive Director (Business Development), NHPC and Kumar Ravikant Singh, Director, UPNEDA, in the presence of Jiwesh Nandan, Principal Secretary (Information Tech & Electronics, Additional Energy Source and Rural Engineering Department, Govt of Uttar Pradesh) and other senior officials of UPNEDA and NHPC.
 
Initially this JVC proposes to implement a 50 MW grid connected solar power project at Parason (Tehsil – Kalpi), Jalaun district, Uttar Pradesh, for which MoU was signed on August 8, 2013 between UPNEDA and NHPC.
 
UPNEDA will provide 275 acres land for this project as a part of their equity share in JVC. The project, which will be built with an estimated project cost is Rs 400 crores, will be completed by mid of 2016.