Suryachakra Power Corporation Ltd, too, has now jumped on Gujarat’s solar power project bandwagon. The company proposes to set up 50 Mw solar thermal power project in the state subject to approval by NTPC Vidyut Vyapar Nigam Ltd.
The BSE-listed power firm has also inked agreements with Flagsol GmbH for taking up solar thermal projects in the country.
“Suryachakra Power Venture Pvt. Ltd. (SPVL), the subsidiary of Suryachakra Power Corporation Ltd (SPCL) has entered into shareholders and share subscription agreements with Flagsol GmbH, Germany for setting up the grid connected solar thermal power projects under the Phase-I of Jawaharlal Nehru National Solar Mission (JNNSM),” the company today informed BSE.
Accordingly, bids will be submitted shortly to NTPC Vidyut Vyapar Nigam Ltd, the nodal agency for this purpose, by Special Purpose Companies (50:50 equity partnership by SPVL and Flagsol) for setting up the projects for purchase of power for a period of 25 years.
The SPV are Suryachakra MSM Solar India Pvt. Ltd. for 50 Mw in Gujarat and Aasrit MSM Solar Energy Pvt. Ltd for 5 Mw in Chhattisgarh.
This is in addition to the Group's earlier registered two projects of 5 Mw each concentrated solar thermal under demonstration scheme of government of India.
Gujarat is fast emerging as a hub of solar power generation as over a two dozen companies have firmed up their plans to come up with solar thermal and solar photovoltaic power projects in Gujarat. Some of these include names such as Clinton Foundation, Tata Power, NTPC, Adani Group, AES Solar Energy, Lanco Infratech, JSW Energy and Welspun Urja Pvt Ltd to name a few.
Gujarat government also came up with solar power policy in 2009 and later on it allotted 716 Mw of solar power capacity to 34 national and international project developers.
Recently, Gujarat Urja Vikas Nigam Ltd (GUVNL), an apex electricity company in the state, inked power purchase agreements (PPAs) with more than 20 companies to procure around 365 Mw solar power. The government is expected to take up another round of agreements for sourcing power generated from solar energy.
