Adani Power, a power utility company engaged in developing coal-based power projects, has moved into the renewable energy sector building a 40 MW solar power plant in the state of Gujarat.
Ravi Sharma, CEO, said that Adani Power has already signed a power purchase agreement (PPA) with the government of Gujarat and expects the plant to commence its operations before the end of the year 2011.
According to Ravi Sharma, Adani Power has plans to improve the solar power project capacity after gaining experience from their first project. He added that currently the company is continuing with the process of inviting tenders for the supply of PV technology equipments required for the project. Although he did not give details on the project costs, according to analysts’, the project may cost anything between $3 million and $3.5 million per MW.
Currently, India, which has given assurance to cut its greenhouse gas emissions by 20–25% from its 2005 year level by the year 2020, has announced its solar energy plan of achieving 20,000 MW by the year 2022. Despite its high level of solar irradiation and ever-growing demand for electric power, the country is yet to make solar power a viable option due to its over dependence on import of vital products such as silicon wafer. Sharma wanted the technology to grow and make solar products more cost effective to install and use. He added though the governments world over are lending their support to push the solar technology, the practiced technologies should find themselves ways to move faster into more cost-effective productions.