India-based Reliance Power, a part of Reliance Anil Dhirubhai Ambani Group, has signed a memorandum of understanding (MoU) with the Government of Rajasthan, a state in India, for setting up solar power projects with 6000MW generation capacity.
The company intends to turn into the largest renewable energy producer in the country, and will be building the projects within a period of ten years.
Reliance Power is developing a 100MW solar concentrated solar power (CSP) project at Pokaran in the Jaisalmer district of Rajasthan.
The plant will be situated at the Dhirubhai Ambani Solar Park. It it will be the largest project based on compact linear fresnel technology (CLFR) worldwide.
The power plant will maintain a reserve margin of 25% to meet its 25-year power purchase agreement (PPA) obligations.
Rajasthan Sun Technique Energy was awarded the project contract in December 2010. It is a subsidiary of Reliance Power.
French conglomerate Areva will provide CFLR Technology for the solar plant.
Once operational, the project is expected to generate 250 KWh of renewable power annually, which will be enough to meet the energy requirements of 230,000 Indian homes.
Multilateral agencies, such as Asian Development Bank (ADB), Export Import Bank of the United States, Financerings Maatschappu Voor Ontwikkelingslanden (FMO), the Netherlands, and Axis Bank, had been the financers for the project.