Sunedison To Set Up 250 Mwe Solar Capacity In India

Neemuch Solar Power Plant, IndiaIN BRIEF US-based solar energy company SunEdison announced collaboration with India's Omnigrid Micropower Company (OMC) in setting up 250 MWe of solar power generation capacity through 5000 rural projects in India. The projects will come up over the next three to five years at an estimated cost of US800 million. OMC has already installed 36 kWe photovoltaic (PV) capacity in micropower plants across India and, with the partnership of SunEdison, the two companies aim to quickly provide electricity to 10 million people. SunEdison is already building 60 mini grids across the country, and the partnership with OMC will provide a further boost to its business in India. Solar electricity costs have come down dramatically and are continuing to drop. Further, while a 1000 MWe coal power plant can take three to four years to build, and a nuclear power plant (NPP) of similar capacity can take five to ten years to construct, a solar power plant can be built in less than a year at competitive costs, SunEdison said in a statement on 10 January at the announcement of the partnership. Prime Minister Narendra Modi's government has been giving a big push to the growth of the renewable energy sector, solar in particular. The Ministry of New and Renewable Energy (MNRE) has revised its target of installed solar power capacity from an earlier 20 GWe to 100 GWe by 2022. India expects over 100 billion investments in the renewable energy sector in next five years. The post SunEdison to set up 250 MWe solar capacity in India appeared first on Intersect Insight.

Source: www.garvindirect.com