Birla Power to invest Rs 2,000 crore in 125 Mw solar plant
The Yash Birla Group is likely to sign a joint venture agreement with a US-based company to set up and maintain solar power plants in India.
According to sources, Birla Urja Ltd, (BUL) a power utility subsidiary of Birla Power Solutions Ltd, (BPSL), is in advanced stage of talks with the US-based solar energy service provider, which manages over 300 sites globally. The proposed JV will focus on building, managing and maintaining grid connect solar power plants for BUL. It is learnt that the US firm has been developing, financing, operating and monitoring solar plants for two decades.
Recently, the group announced that BPSL will invest Rs 3,000 crore to set up a 600 Mw coal-fired thermal power plant that will be commissioned within the next three years under BUL. BPSL will additionally invest Rs 2,000 crore to set up 125 Mw of solar photo-voltaic power plants over the next three years. In the first phase, the allocation will be Haryana 10 Mw, Uttarakhand 5 Mw, Rajasthan 5 Mw and Andhra Pradesh 50 Mw.
BUL has already applied for allocation of 300 acres from the Andhra government for the 50 Mw solar PV grid connect plant and already applied for licenses as well. BUL was formed last year eyeing deployment of latest technology to build, operate and own utility scale power plants in thermal and renewable energy sectors. Thermal plants will be captive units and company is also planning to trade the surplus power as merchant trading.
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