Clinton Foundation, founded by former US president Bill Clinton, has firmed up its plans to set up world's largest solar park in the world, in Gujarat. In a closed door meeting, a delegation led by Clinton Foundation chairman Ira Magaziner met chief minister Narendra Modi and other top government officials today to disucss their plans to set up a 3,000 to 5,000 MW solar park in the state.
"Clinton Foundation is keen to sign an MoU for this project anytime next week. The investment for the project could be anywhere close to $ 10 billion depending on the size o the project," said a top government official who was present at the meeting.
Currently, the world’s largest solar power plant is currently in Mojave Desert of California with a capacity that will go up to 900 Mw in few years.
In August last year, Clinton Foundation had initiated talks with Gujarat government for what is being billed as the world's largest solar project. The Foundation has also initiated trials with The Energy and Resources Institute (TERI) and is looking for land in North Gujarat.
Clinton Foundation will bring in techinical and financial partners besides potential investors for the project. "Leading international firms like Asian Development Bank and International Finance Corporation could be roped in by Clinton Foundation to fund the project," sources in the know of the development said.
The project envisages an integrated solar city wherein even the raw materials including glass and panels will be produced by the developers.
The cost of generation of 1 mw of solar thermal is about Rs 15 crore, however, looking at the scale of the project, it could come down substantially, an official said. The project is also tagged as one of the largest foreign direct investment (FDI) into the state.
Gujarat had recently come out with a separate solar power policy under which it proposes to purchase 500 Mw of solar power every year.
At the Vibrant Gujarat Global Investors Summit in January this year, AES Corporation, a US-based Fortune 500 company had signed MoU for setting up a solar power project in Gujarat. Others to have signed MoUs for solar projects included Moser Baer for setting up a 650 Mw project, Essar Abengoa Solar (40 Mw), Swiss Park (100 Mw), OPG Energy (100 Mw), Acme group (110 Mw), Welspun group (100 Mw).
