PFC and WBGEDCL ink MoA for country's largest solar PV plant

Kolkata, Feb 14 (UNI) Power Finance Corporation Ltd (PFC) and West Bengal Green Energy Development Corporation Ltd (WBGEDCL) today signed a 'Memorandum of Agreement' (MoA) for the country's largest solar PV power plant at the Dishergarh Power Station at Asansol.

The two-MW power plant will entail a cost of Rs 41.2 crore, WBGEDCL Managing Director S P Gon Chaudhuri said.

" The Union Government would pay incentive - a maximum of Rs 12 per unit for ten years - to subsidise the generation cost, which would be Rs 15 per unit, " Mr Gon Chaudhuri said.

PFC will sanction a loan of Rs 30.9 crore for the proposed project, estimated to cost Rs 41.2 crore.

Mr Gon Choudhuri said Dishergarh Power Station would buy all the power generated by the solar PV power plant.

However, the price of power had not yet been decided as it would depend on the government incentive.

" We are looking at this as a pilot project and the rate of interest would be softer than the usual rates, " PFC Chairman and Managing Director V K Garg said.

West Bengal Power Minister Mrinal Banerjee, who was present at the MoA signing ceremoney, said a solar park was coming up at Purulia on 100 to 150 acre and would have a cumulative generation capacity of 30 MW.

WBGEDCL is promoted by the State Government for promotion and development of grid connected renewable sources of energy and is implementing Renewable Energy programmes of Ministry of New and Renewable Energy (MNRE), Govt of India in West Bengal.

MNRE had set for itself a goal to add an additional 14,000 MW capacity of grid quality power through non-conventional renewable resources from commercially exploitable resources by the end of 11th Five Year Plan.

Mr Gon Choudhuri said West Bengal had a potential to add 10,000 MW through renewable energy, including solar sources. At present, the installed capacity of electric power from non-conventional renewable energy sources in West Bengal is 76 MW.

In addition to this, WBGEDCL had drawn an action plan to add 400 MW of power through renewable energy sources by the end of 11th Five Year Plan period in the state, he stated.

PFC and WBGEDCL will cooperate to leverage their respective strengths and competencies built over the years for development of renewable sources of energy, to avail Clean Development Mechanism (CDM) benefits from the small scale renewable energy power projects and for promoting energy efficiency in all sectors for mutual benefit.

UNI KDG SJC/SRC2037