The Karnataka Power Corporation Limited (KPCL), the state-owned power producer, is scouting for joint venture partners to set up a large solar power plant in the state. The corporation, which recently commissioned two 3 Mw solar power stations in Kolar and Belgaum district on a pilot project basis, is presently in the process of setting up the third unit, of 3 Mw, in Raichur district, a senior official said.
KPCL is interested in partnering a company which can come in either as a financial partner or a finance-cum-technology partner. The corporation intends to set up a 10 Mw solar power plant at an estimated cost of Rs 150-200 crore depending on the technology, he told Business Standard.
“We are in the process of identifying suitable land for the project and after that invite expressions of interest from reputed companies to become JV partners,” the official said.
The Union ministry of new and renewable energy (MNRE) has started a scheme to provide generation-based incentive for grid interactive solar power generation. The Centre has set a target of generating 20,000 Mw power through solar stations by 2020.
“We would like to make use of the opportunity and produce as much as possible and increase our exposure in new and renewable energy sector in line with the policy of the Centre. The success of the pilot project in Kolar and Belgaum has encouraged us to go in for a bigger project now,” the official said.
The MNRE had announced a subsidy of Rs 10 crore each for 4 Mw of solar energy in the country. Of this, KPCL has been sanctioned a subsidy of Rs 10 crore for one Mw recently.
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The official said that KPCL has received response from a few companies interested in becoming the JV partners, which include L&T, BHEL, Aston Field of West Bengal and Solar Semiconductors of Hyderabad.
Typically, a solar power plant requires an investment of Rs 20 crore per Mw. KPCL has so far invested Rs 120 crore on setting up two plants in Kolar and Belgaum districts. Its third unit will be set up in Raichur district for which it has already floated tenders. In addition to these units, KPCL is also planning to set up similar small solar plants in many other places where there is adequate sunlight for at least 300 days in a year. It has identified places like Bijapur, Gulbarga, Tumkur among others to install units next fiscal.
The corporation is also looking at opportunities to set up solar units at its thermal stations in Raichur and Bellary to cater to the power requirements of Raichur and Bellary Thermal Power Stations, the official added.