India’s Ministry of Heavy Industries and Public Enterprises announced yesterday the joint venture developing the 4GW ultra mega solar power project (UMSPP), made up of six companies has signed a memorandum of understanding (MoU).
The MoU stipulated the huge project is to be built over seven years, the first phase of which will be 1GW. The UMSPP was announced at Intersolar India in November last year.
The agreement was signed with attendance from Shri Praful Patel, Minister of Heavy Industries and Public Enterprises and the Minister of New and Renewable Energy, Farooq Abdullah.
The consortium of companies will be registered as a public enterprise under Druk Holding Investments (government investment arm of the ministry of finance), with headquarters in Delhi.
Representing the joint venture were the managing directors and executive chairmen: Shri Prasada Rao of Baharat Heavy Electricals, Shri Rajendra Nimde of the government run Solar Energy Corporation of India, Shri Tandon of land provider, Sambhar Salt Lake, Shri Nayak of Power Grid, Shri Singh of Satluj Jal Vidyut Nigam Limited (a national and state government JV for hydropower) and Shri Jain of Rajasthan Electronics and Instruments Limited (state and national government venture for electrical technology advancement).