50 MW 5 phased project in pipieline in Bihar
A US-based agency, Schanti Partners, New York will be developing 50MW project worth Rs 580 crore for a solar energy project in Kaimur district of Bihar. Initially, a 10MW unit would be setup. They have received approval letter from Bihar State Investment Promotion Board, no-objection letter from Bihar Renewable Energy Development Agency (BREDA),and the proposal is submitted to Bihar State Electricity Board (BSEB).
Intention is to have a 12.5Rs/unit PPA of 25 years with BSEB.
A fully-owned subsidiary of Schanti Partners LLC ‘Sparkle Solar Bihar I’ will be executing the project. The project will be developed in a phase of 10 MW in 5 phases. The equipment would be sourced from Sol Focus Inc. , a US solar equipment manufacturer. An official marking the importance of project said “With the setting up of this solar energy plant, Bihar will emerge as a leader in solar energy development among eastern states of India”.
The project will use the most recent version of photovoltaic technology called Concentrating Photovoltaic (CPV) system; it is the PV technology with an optical system that focuses sunlight over a large area onto each cell.
The agency would not be taking help from Bihar industrial land bank. As per the proposal, the land would be leased for 30 years term directly from the owners, in lieu of annual lease payments to them.
The financing for the project has already been secured, with a letter of intent(LOI) from the Export-Import Bank of the US. The letter of intent provides for approximately $30 million in financial support with factors depending on extent of US-made solar power equipment.
Kaimur district has robust electricity infrastructure for power evacuation, with grid connectivity and nearby electrical substations. Power lines of 33kV and 132kV and electrical substations are already in place in the district.
Allocation of 175MW of grid-connected solar power projects was granted last year by Bihar Solar Policy.
(Source: India Times)
Posted on August 23, 2012, in Solar in Industries, Solar technology and tagged Bihar, Power Purchase Agreement, renewable energy, Renewable Energy in India, solar energy. Bookmark the permalink. Leave a comment.