PLG Clean Energy Projects, renewable energy arm of power and infrastructure major BS Group is vying to set up 250 MW solar energy project in Haryana. The company has signed MoU with the state government to invest Rs 1300 crore for solar power generation.
“The company is looking at reverse bidding route to set up the project in Haryana,” chief executive officer, PLG Clean Energy Projects, Puneet K Goyal told ET. He said that the company is eying projects in the category of Renewable Power Project of Haryana and NTPCBSE -0.49 % project. Haryana, minister for Industries, Vipul Goel, had signed the MoU with the company, he said.
The company is vying for land on lease for the solar project in the state. “The competitive domestic solar power tariffs in the recent years have made the land cost a crucial factor in solar projects,” Goyal said. He said that the company has sought assistance of state government for land for the project.
PLG Clean Energy is looking at land district including Jhajajr district. The company is targeting to develop 2 GW of solar power plants by 2019. PLGCEP has won and secured 230 MW of solar power plant PPAs under disruptive transparent reverse bidding mechanism of Govt. of India. These 230 MW solar power plants are an investment opportunity of $230 million. PLGCEP is a Group Co of BS Group.
Goyal said that the company had developed India’s first 20 MW Solar Power Plant at Gujarat with an investment of Rs 340 crore. The company has secured 230 MW Solar Power Plant Project PPAs under disruptive transparent reverse bidding mechanism. The company has long term target to build, develop, finance, own & acquire Renewable Energy Assets – Solar & Wind renewable asset portfolio of 5000 MW (5 GW) in the next 6 years by 2020.
The company is currently developing 230 MW solar capacity in Maharashtra (70 MW), Rajasthan (60MW) and Jharkhand (100MW), Goyal said.