Indian State Signs 20 PV-related MoUs At Summit

Several Firms Commit Investment In Solar Energy For Andhra Pradesh
07:51 PM (Beijing Time) - 04. March 2018
Indian State Signs 20 PV-related MoUs At Summit

The Indian government’s EESL has announced it will support installation of PV-based power projects of up to 450 MW in two phases in Andhra Pradesh. During the Confederation of Indian Industries (CII) Partnership Summit 2018, Andhra Pradesh signed 734 MoUs of which 20 are solar-related. (Photo Credit: EESL)

Key Takeaways

  • Andhra Pradesh signs 734 MoUs - 20 concerned with solar - during CII Partnership Summit 2018
  • Reliance Industries Ltd., Adani, JBM Group and the government of India’s EESL have committed to invest in solar
  • Adani Group to investigate setting up 1 GW of renewable energy units and a battery storage facility

The state government of Andhra Pradesh in India ended the Confederation of Indian Industries (CII) Partnership Summit 2018 with 734 memorandum of understanding (MoU), including at least 20 in the field of solar energy, tweeted Chief Minister Chandrababu Naidu.

The 20 MoUs represent more than an 804 billion INR ($12.39 billion) investment. Reliance Industries Ltd. (RIL) signed for projects worth 550 billion INR ($8.47 billion), including in solar, electronics and innovation hubs in the state. As part of a 90 billion INR ($1.39 billion) investment, the Adani Group has committed to setting up 1 GW of renewable energy units and a battery storage facility. While it was not mentioned that solar will be included in this renewable energy technology mix, this is rather likely as Adani operates a cell/module factory in India. Infrastructure specialist JBM Group will invest 26.5 billion INR ($408 million) for electrical mobility, solar power  generation and auto components.

Energy Efficiency Services Limited (EESL), an energy service company of the government of India, will be investing 37.3 billion INR ($574 million) for four projects in e-mobility, energy efficiency and renewable energy. It includes setting up small PV-based power projects in phases. The company signed an MoU with Southern Power Distribution Co. Of AP Ltd. to support installation of PV-based power projects of up to 450 MW in two phases for an investment of 19.5 billion INR ($300 million). On its facebook page, EESL stated that “solarization of rooftops and vacant land is imminent.”

EESL will also supply around 1.7 million smart meters to two discoms, Eastern Power Distribution Company of AP Ltd. and Southern Power Distribution Co.

Prior to the summit, in mid-January, China’s CETC Renewable Energy Technology Company signed an MoU with the state government to set up a $50 million PV cell manufacturing factory (see Chinese PV Cell Factory For Andhra Pradesh). In  early February, LONGi from China announced to install 1 GW cell and 1 GW module production capacity in Andhra Pradesh (see LONGi Plans 1 GW Cell/Module Factory in India).

ReNew Power Ventures signed an agreement with the state of Maharashtra at an investment summit held in mid-February to invest 60 billion INR ($925.6 million) for solar power in the region (see ReNew Power To Invest Heavily In Solar).

A number of companies, including the Adani Group, have also signed MoUs with the state government of Uttar Pradesh to invest in solar.

 

siteadmin

.

Write, follow the author.
Email