BS reported that the Karnataka Power Corporation Limited is scouting for joint venture partners to set up a large solar power plant in the state. The corporation which recently commissioned two 3 Mw solar power stations in Kolar and Belgaum district on a pilot project basis is presently in the process of setting up the third unit, of 3 MW in Raichur district.

A senior official said that KPCL is interested in partnering a company which can come in either as a financial partner or finance cum technology partner. The corporation intends to set up a 10 MW solar power plant at an estimated cost of INR 150 crore to INR 200 crore depending on the technology.

He added that “We are in the process of identifying suitable land for the project and after that invite expressions of interest from reputed companies to become JV partners.”

The Union ministry of new and renewable energy (MNRE) has started a scheme to provide generation-based incentive for grid interactive solar power generation. The Centre has set a target of generating 20,000 Mw power through solar stations by 2020.

The official said that “We would like to make use of the opportunity and produce as much as possible and increase our exposure in new and renewable energy sector in line with the policy of the Centre. The success of the pilot project in Kolar and Belgaum has encouraged us to go in for a bigger project now.”

(Sourced from Business Standards)