Global solar manufacturer SunEdison has signed a memorandum of understanding (MoU) with the Rajasthan government, a state in India, to develop multiple mega solar projects with a combined capacity of 5GW.
Each of the mega solar PV projects built by the power firm will have generation capacity of 500MW or more.
The agreement follows the recent government announcement of a solar policy in the state, which aims to produce 25GW of solar power within the next few years.
The solar plants will generate and supply solar energy to nodal entities owned by the federal government, such as the Solar Energy Corporation of India, NTPC Vidyut Vyaparan Nigam Limited and Power Trading Corporation. These projects will be owned and operated by SunEdison or its affiliates including Yieldcos.
Business models and innovative financing assistance for the state are also expected to be provided by the firm. This will facilitate large scale replacement of its existing irrigational water pumps run by electric and diesel with solar powered water pumps.
The state government has appointed Rajasthan Renewable Energy Corporation to look after selection, allotment and approval processes of suitable lands required for construction of the mega solar PV projects. The will be leased to the firm for a long-term period. Infrastructure for power interconnection will also be set up by the government.
SunEdison Asia Pacific operations president Pashupathy Gopalan said: "SunEdison is committed to the long-term development of India's solar programme and supports its quest for energy security.
"In support of this initiative we are building local and global partnerships to ensure India is at the cutting-edge of solar technology and can provide its citizens with clean, reliable, affordable energy solutions."
The US-based power manufacturer has more than 50MW of large solar generation capacity and over 1,000 solar water pump installations in Rajasthan under its portfolio, marking its strong presence in the state.