Rahul9090
FULL MEMBER
- Joined
- Feb 21, 2014
- Messages
- 966
- Reaction score
- -1
- Country
- Location
Three canadian companies are planning to invest INR6,100 crore ($996.5m) in the Indian state of Odisha to develop a 500MW solar plant and panel manufacturing unit.
The consortium, called Sarus Solar, consists of PV manufacturer Canadian Solar, EPC firm Guycan Solar, and investment firm Mackie Research Capital Corporation.
‘As an AAA-rated company, we have the financial resources and ability,’ said Jason Deonarain, president of Sarus Solar, according to the Business Standard.
The government here has recently announced Odisha’s Solar Policy for 2013, which is in line with the country’s National Solar Mission - deploying 20GW of grid connected solar power by 2022.
Firms which decide to invest will benefit from sales tax and electricity duty exemption, apart from allocation within the land bank created by Green Energy Development Corporation (Gedcol), the nodal agency for development of solar power projects in Odisha.
The latter is a subsidiary of the Odisha Hydro Power Corporation. There are almost 700 acres of surplus land with the hydro power producer and the aim is to use this for establishing solar power projects – of which it is estimated Odisha can produce a total of 8GW. It is currently producing almost 13MW of solar power from units established by private companies.
However the 500MW project proposed by Sarus would require almost 2,500 acres, and the consortium may buy the land themselves, Gedcol said.
Solar news - Canadian firms plan $1bn 500MW solar plant in India
The consortium, called Sarus Solar, consists of PV manufacturer Canadian Solar, EPC firm Guycan Solar, and investment firm Mackie Research Capital Corporation.
‘As an AAA-rated company, we have the financial resources and ability,’ said Jason Deonarain, president of Sarus Solar, according to the Business Standard.
The government here has recently announced Odisha’s Solar Policy for 2013, which is in line with the country’s National Solar Mission - deploying 20GW of grid connected solar power by 2022.
Firms which decide to invest will benefit from sales tax and electricity duty exemption, apart from allocation within the land bank created by Green Energy Development Corporation (Gedcol), the nodal agency for development of solar power projects in Odisha.
The latter is a subsidiary of the Odisha Hydro Power Corporation. There are almost 700 acres of surplus land with the hydro power producer and the aim is to use this for establishing solar power projects – of which it is estimated Odisha can produce a total of 8GW. It is currently producing almost 13MW of solar power from units established by private companies.
However the 500MW project proposed by Sarus would require almost 2,500 acres, and the consortium may buy the land themselves, Gedcol said.
Solar news - Canadian firms plan $1bn 500MW solar plant in India
