Business & Economy

GMR Infrastructure to foray into solar power with 25m plant in Gujarat

NetIndian News Network

Bangalore, October 17, 2010

The Bangalore-based GMR Infrastructure Limited (GIL) today said it had received permission from the Gujarat Government to set up a 25 MW solar power plant in the state.

The proposed 25 MW project will be powered using photo-voltaic technology, which is currently the fastest growing power-generation technology in the world, the company said in a statement.

According to it, the group has been in the business of power generation for the past 11 years. It has three operating assets with cumulative capacity of 808 MW and has 11 projects under various stages of development totaling 8448 MW, out of which 4138 MW is under construction and 4310 MW is under development. These projects are in the thermal [both gas and coal] and hydel mode.

The release said that, in a bid to tap solar energy for power generation, the Gujarat Government is aiming at 3,000 MW capacity of solar power generation in next five years.

According to its Solar Power Policy—2009, the State Government seeks installation of 500 megawatts (MW) of solar power generators (SPGs) up to 2014. Under the policy, each solar photovoltaic or solar thermal project must have a minimum 5 MW capacity. SPGs installed until March 2014 are eligible for incentives such as exemption from payment of electricity taxes for 25 years or until the project life span, the release added.