Solar energy in India.. New projects worth 6.6 billion dollars
The ability of 10k megawatts over 5 years the next
Solar energy in India is making strides towards leapfrogging in the coming years, with huge government interest and support.
India's state-run satellite company, Satellite Gal Vidiot Nigam (SJVN), has submitted a proposal for the construction of a number of 10,000 megawatts of solar energy projects, requiring an investment of Rs 50,000 crore ($6,681 billion) over the next five years in the state. Rajasthan in India.
Commercial production of the projects will start in phases, and the generated electricity will be transmitted to the beneficiaries through nearby substations.
A statement by Satluj Gal Vidiot Nigam said the Rajasthan government has accepted its proposal and a memorandum of understanding will be signed in this regard soon, India's daily Economic Times website reported.
Rajasthan Chief Minister Ashok Gilot and Chairman and Managing Director of Satellite Gal Vidiot Nigam Nand Lal Sharma attended the exchange of Letter of Intent and Letter of Acceptance, on Tuesday 8 February.
social and economic development
Chairman and Managing Director of Satellite Gal Vidiot Nigam Nand Lal Sharma announced his company's intention to construct 10,000MW of renewable energy projects/parks on land to be allocated by Rajasthan Renewable Energy in the state.
He added that these projects will lead to social and economic development in the project areas, and will open areas for direct and indirect employment for about 15,000 people.
As a result of the Government of India's commitment to achieve 500GW of installed capacity from non-fossil fuel sources by 2030, Satellite Gal Video Nigam has re-engineered its business model and given significant impetus to its renewable energy portfolio.
It is worth noting that the electricity purchase agreements for the generated power will be signed according to the competitive tariffs available in the market.
solar energy in rajasthan
Satellite Gal Vidiot Nigam has proposed to develop solar power projects in Rajasthan, as it has the largest solar potential in the country.
The state has the highest solar irradiance (5.72 kWh/m2/day) and also has the highest number of more than 325 net sunny days all year round, “All these factors are working in our favor in developing projects.”
Chairman and Managing Director of Satellite Gal Vidiot Nigam Nand Lal Sharma said the company has 2,750 MW of renewable energy projects in its portfolio.
He noted that the company recently updated its joint vision to an installed capacity of 25,000 megawatts by 2030, and 50,000 megawatts by 2040.
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