Uttar Pradesh Government is planning to enter into agreements worth Rs. 2,300 Crores with eight firms for the solar power projects in the state.
The New & Renewable Energy Development Authority (NEDA) which is a state nodal agency for the renewable energy development has signed Memorandum of Understanding (MoU) with National Hydro Power Corporation (NHPC) for a 100 MW Solar Project in Jalaun.
As the MoU, the NHPC will be required to set up a joint-venture within three months. While NEDA will provide the land and contribute in terms of equity, the power company will be responsible for power generation. The proposed project is also slated to be the largest single solar plant unit in the country, till date.
The government will also sign pre-purchase agreements (PPAs) on August 8 with seven power companies for total power generation of 130 MW. 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.
According to the agreed arrangement, the state government will bear the cost of transmission infrastructure, while the remaining overheads will have to be borne by the production companies. All power generated by the companies will be bought by the UP government for the first 12 years of setting up the generation plants.
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