Indian state-led power company SJVN has confirmed plans for a 4.2GW renewable energy park.
The company, which is a joint venture between the national government and the local authority of Himachal Pradesh, will develop the mixed technology park in Gujarat.
The ‘ultra mega’ renewable energy park will be developed on a salt pan owned by Hindustan Salts. SJVN confirmed an agreement was in place with Hindustan Salts in a statement on its website.
The first gigawatt of solar and wind capacity will be developed in the next three years, SJVN executive director RK Agarwal told Bloomberg. Subsequent phases of the park’s development could be opened up to private companies.
The anticipated cost for the first phase is INR65 billion (US$1.05 billion).
SJVN is also co-developing a 4GW ultra mega solar project in Rajasthan and has a 16% stake in what it calls the country’s largest solar development.
Analyst firm Mercom Capital predicts India could install 1.8GW of solar in 2015.