Lanco group, through its newly formed special purpose vehicle Lanco Solar is planning to invest close to Rs 4,000 crore for setting up solar projects in the state.
The company has recently been allotted 35 Mw as part of the state's Solar Power Policy-2009.
According to senior government sources close to the development, Lanco Solar is aiming to reach an overall production capacity of 200 Mw from photovoltaic cells over a period of time besides setting up a panel manufacturing facility.
Lanco Solar in a recent Industrial Entrepreneur's Memorandums (IEM) filing with the Department of Industrial Policy and Promotion has stated that it aims to set up photovoltaic modules in Gandhinagar.
"Lanco is in the process of submitting a detailed business plan for setting up a manufacturing facility for solar panels as well. The company has evinced interest in setting up a 200 Mw solar PV cells project in Gujarat," said government sources.
The Hyderabad based company would be investing close to Rs 3,000 crore for the proposed 200 Mw solar plant.
The projected cost of setting up an integrated manufacturing unit wherein all the raw materials including glass and panels will be produced by them will be about Rs 1,000 crore, sources added.
Meanwhile, an e-mail query to Lanco remained unanswered.
Lanco group had approached the state government after the MoU signing ceremony for the sector at the Vibrant Gujarat Global Investors Summit 2009 and was one of the 50 odd projects that were signed later on, sources said.
Gujarat government has recently allotted 716 Mw of solar power capacity for an incentive to 34 national and international developers including Lanco. This is much higher than the 500 Mw capacity declared earlier this under its new Solar Power Policy-2009. The 34 projects are likely to draw an investment of over Rs 10,000 crore.
Of the 716 Mw allotment, the share of Solar Photovoltaic is 365 Mw while the remaining is for solar thermal projects.
Other developers who have been allotted solar photovoltaic projects include US based firms like AES Solar Energy (15 Mw), a Fortune 500 firm, Astonfield Solar (25 Mw) and Azure Power Ltd (15 Mw).
Germany based Dreisatz GmbH and Mi GmbH, Germany have been allotted 25 Mw each for solar PV cells projects in the state.
Lanco Solar, a special purpose vehicle set up by Lanco Group, has been allotted 35 Mw while Torrent Power is all set to foray into solar power sector with the allotted 25 Mw. Also Videcon group and JSW Energy have been allotted 5 Mw each.
Gujarat Electricity Regulatory Commission (GERC) has recently proposed a tariff of Rs. 14 per unit and Rs. 10 per unit for power generated from solar photovoltaic (PV) and thermal power projects respectively.
As per the draft order the state power regulator, the tariff for procurement of power generated from solar PV projects is fixed at Rs. 14 per kwh for first twelve years starting from the commissioning of the power plant and Rs. 4 per kwh from 13th year to 25th year.
