India's public sector power entity National Thermal Power Corporation plans to establish a 750MW solar power facility in the state of Madhya Pradesh with an estimated investment of INR50bn ($815m).
Speaking to The Sunday Standard on the sidelines of the Global Investor Summit in Indore, NTPC chairman Arup Roy Choudhury said this would be the corporation's largest solar power facility.
The public sector PSU has ten solar facilities, of which a 50MW plant is currently operational in Rajgarh, which is also in the state of Madhya Pradesh.
Choudhury said, "We already have 202MW installed capacity in solar power. This is our commitment to take the government's initiative of clean energy further and provide more clean energy to the grid."
The proposed plant has already been allocated land and is expected to become operational within a year of receiving the land.
The investment would be done in phases of INR2.5bn each ($40m).
Over the next five to seven years, NTPC intends to increase its solar power generating capacity to 3,500MW, reports The New Indian Express.
It intends to install solar plants of 1,000MW in the states of Andhra Pradesh and Telangana.
Additionally, NTPC is looking for land in Rajasthan to set up a solar power plant. Rajasthan receives sunshine for 340 days, making the state ideal for setting up a solar plant.
The PSU intends to invite bids to procure equipment from domestic companies and overseas firms for PV cells.
As part of the Prime Minister Narendra Modi's Make in India campaign, NTPC intends to request overseas firms to manufacture PV cells in India.