BHEL signs MoU for setting up solar power project in Rajasthan

 Bharat Heavy Electricals Limited (BHEL), Solar Energy Corporation of India (SECI), Sambhar Salts Limited (SSL), Power Grid Corporation of India Limited (POWERGRID), Sutlej JalVidyut Nigam Limited (SJVNL) and Rajasthan Electronics and Instruments Limited (REIL) have signed a Memorandum of Understanding (MoU) for formation of a joint venture company (JVC) for setting up of a Ultra Mega Solar Power Project (UMSPP) with a cumulative capacity of 4,000 MW in phases at Sambhar in Rajasthan on build, own and operate basis.
The planned first phase implementation of the UMSPP at Sambhar is of 1,000 MW, and the balance 3,000 MW in subsequent phases. This is an initiative of Ministry of Heavy Industries and Public Industries (HI&PE), Ministry of New and Renewable Energy (MNRE) and Ministry of Power (MoP).
The main salient features of the MoU are as follows: The proposed equity participation in the JVC (in per cent): BHEL – 26, SECI – 23, SSL – 16, POWERGRID – 16, SJVNL – 16, and REIL – 3The JVC will be incorporated in Delhi after finalisation of definitive documentsThe JVC will be under the supervision of Ministry of HI&PEThe JVC will arrange the entire debt requirement for implementation of various projects.
All modules required during the Phase-I implementation (i.e. 1,000 MW) of the project at Sambhar will be for supply by BHEL on nomination basis subject to the manufacturing capacity of BHEL at that point of time. Besides, BHEL will also have the right of first refusal for supply of solar PV cells and modules during the subsequent phases (i.e. 3,000 MW) of the project, and other projects developed by the JVC.
The project is likely to be completed by 7 to 8 years from the date of all the approvals and clearances.

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