Guj to finalise PPAs for 1,000 MW solar power by September
PTI | 10:08 PM,Aug 09,2010Ahmedabad, Aug 9 (PTI) Gujarat government today said it will finalise power purchase agreements (PPAs) for generation of 1,000 MW solar power by September in Gujarat, attracting an investment of Rs 15,000 crore. "We have so far signed PPAs for 365 MW generation of solar power, and applications seeking establishment of 5,000 MW are pending with us," Principal Secretary Energy & Petrochemical Department, D J Pandian told PTI. "We have called for financial and technical details of these pending projects from the applicants, of which PPAs for 1,000 MW of solar power generation are likely to get finalised by September," Pandian said. Gujarat has set an ambitious target of having 1,000 MW established solar power generation capacity by the end of 2012 & 3,000 MW in next 5 years. "The move is expected to attract an investment of Rs 15,000 crore in the state, and create jobs for over 5,000 persons," Pandian said. He said, Asian Development Bank (ADB) was willing to fund the renewable energy (RE) projects in Gujarat. ADB has extended credit facility to RE projects to the extent of 1.5 to 2 billion USD in each of the last four years, which includes equity financing for RE joint venture company.PTI VKB PD AMA
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