The Solar Energy Corporation of India (SECI), a nodal agency responsible for implementation of solar power projects in India, is planning to develop 1 GW solar PV plant in the district of Mahboobnagar in Andhra Pradesh.
The project is supported by Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and Japanese lending agency, JICA. While APIIC will provide the 5,000 acre site, JICA will provide the funding for initial infrastructure through a low-interest loan. The fund was leveraged through agencies like Asian Development Bank (ADB) and Clean Energy Fund.
The basic infrastructure is likely to be completed in the next five to six months. Bidding for the capacities is likely to start after that. Â The entire capacity is expected to come up over the next 18 to 24 months, said Rajendra Nimje, MD, SECI.
Initial outlay for the infrastructure is estimated to be INR 6 billion. The project will require a total investment of between NR 80 billion (USD 1.29bn) and INR 100 billion (1.6 bn), Nimje said.
SECI Â has set a target to achieve 10,000 MW in solar capacity by 2017. In September last year, SECI, in partnership with Power Grid Corporation of India, announced their plan to develop 4 GW utility scale PV power plant in Rajasthan province.
SECI is also planning to build four more solar complexes in the states of Odisha, Tamil Nadu, Rajasthan and one more in Andhra Pradesh, according to industry sources.