With an investment of Rs Rs 2,300 crore, the Uttar Pradesh government will soon tie-up with eight companies to produce a total power generation of 130 mw solar power in the state. The State government was scheduled to sign agreements worth Rs 2,300 crore on August 8.
With rates of bidding ranging between Rs 8.01 to Rs 9.33 per unit, the State government will also, as part of the PPA, agree to purchase power for 12 years. This will be the largest investment being brought into UP, after the government instituted the Solar Power Policy 2013.
The State's New and renewable Energy Development Authority (NEDA) will sign an MoU with the National Hydroelectric Power Corporation (NHPC) for setting up a 100 mw solar power plant in Jalaun.
As per the the MoU, NHPC will have to set up a joint-venture within three months. While NEDA will provide the land and contribute in terms of equity, NHPC will be responsible for power generation. The 100 mw NHPC unit is also slated to be the largest single solar plant unit in the country, till date.