Reliance Power signs MoU for 6,000MW of solar capacity in Rajasthan, India

Reliance Power, a unit under the Reliance Anil Dhirubhai Ambani Group, has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan in India, for setting up solar power projects in the state totalling 6000MW.

The power firm plans to develop the projects within 10 years, in line with its aim to be the largest producer of renewable energy in India.

The company is presently constructing a 100MW Solar Concentrated Solar Power (CSP) Project at Pokaran.

Located at the Dhirubhai Ambani Solar Park in Jaisalmer district, Rajasthan, the solar project is the largest in the world to be based on Compact Linear Fresnel Technology (CLFR).

The facility will maintain a reserve margin of 25% to meet its 25 year Power Purchase Agreement (PPA) obligations, Reliance Power informed.

Rajasthan Sun Technique Energy, a subsidiary of Reliance Power, had won the contract for the solar project development in December 2010.

The CFLR technology for the plant will be provided by French nuclear and renewable energy firm Areva.

Financing for the project has been provided by multilateral agencies including the Asian Development Bank (ADB), Export Import Bank of the United States, Financerings Maatschappu Voor Ontwikkelingslanden (FMO), Netherlands and Axis Bank.

Offering an annual generation capacity of 250 million KWh, the project is likely to power 2,30,000 Indian homes after it is commissioned.