Home India SECI and Russian Energy Agency sign MoU for Development of Solar Projects in India
SECI and Russian Energy Agency sign MoU for Development of Solar Projects in India

SECI and Russian Energy Agency sign MoU for Development of Solar Projects in India

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In  a notable step  towards catalysing foreign  investments  into  the  expanding Indian Solar energy sector, the Russian Energy Agency(REA) and Solar Energy Corporation of India (SECI) have entered into a Memorandum of Understanding (MoU) on 24th December, 2015.The MoU was signed by Mr. A. V. Tikhonov, Director General (REA), and Dr. Ashvini Kumar, MD (SECI)in the presence of senior-level officials.Under the MoU, the parties have agreed to set up large-scale photovoltaic power plants  in  India during the years2016-2022.  As  one  of  the  first  stages for realization  of the projects,  a  pilot  project  of  capacity  up to  500  MW  would  be constructed. The parties have proposed to collaborate and cooperate on the basic parameters of project implementation in order toachieve competitive solar tariffs, and have agreed to devise a road-map for development of solar projects and manufacturing facilities.

While REA would be bringing in state-of-the-art technologies, low-cost financing etc.  for  the  projects, SECI would assist  in  obtaining the required Government clearances and approvals. A working group, consisting of representatives of SECI and REA, would be established for deliberating on the next steps forward.This development, being in-line with the Government of India’s plans for massive scale-up of solar power projects and rationalisation of solar power tariffs, would also give a boost to the ‘Make in India’ campaign. Solar power is an environmentally beneficial and fuel-risk free source of energy,and is seen as an important contributor to India’s future electricity-mix. With the current installed capacity of about 4 GW, solar energy is crucial for lowering of the nation’s carbon intensity to combat Global Warming.

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Anand Gupta Editor - EQ Int'l Media Network

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