Public sector oil marketing company Bharat Petroleum Corp Ltd today announced foray into solar power generation by deciding to set up its first solar photovoltaic power project of one Mw capacity in the state.
BPCL has signed a memorandum of Understanding (MoU) with the state-owned Punjab Energy Development Agency (PEDA) to set up the power plant, involving an outlay of Rs 22-25 crore, on build operate and own (BOO) basis at Lalru in Mohali, within the next 8-10 months.
The power generated from this project would be evacuated to state grid at a tariff of Rs 8.93 per unit.
"This is our first solar-based power project in the country which will be set up in Mohali," BPCL Executive Director A K Bansal said here.
However, he said BPCL has still not firmed up any plans to set up similar project in other parts of the country. "It is a pilot project and its success will decide where and when to develop another solar photovoltaic project," he added.
BPCL, which entered into developing renewable energy projects two years back, also has plans to set up new wind power project in Rajasthan, Gujarat, Maharashtra and Tamil Nadu of 5-10 Mw each.
"We have successfully commissioned our wind energy project in Karnataka and now we wish to replicate the success in other states as well," he said.
