SunEdison Inc. (NYSE: SUNE) has announced it will make a significant contribution to India’s ambitious plan of adding 25GW of new solar energy projects in the sun-soaked region of Rajasthan.
SunEdison has signed an official Memorandum of Understanding (MoU) with the Rajasthan government to build 5GW of mega-scale (above 500MW in capacity) grid-connected solar plants in the state. The company says it will build multiple photovoltaic facilities in the Rajasthan region as part of the state’s recently unveiled Solar Energy Policy, which aims to transform Rajasthan into India’s solar power hub.
The MoU will see the company add to its 50MW of large-scale solar capacity already installed in Rajasthan and expand its successful solar water pump initiative, which has seen over 1000 pumps replace aged and inefficient diesel and electric pumps on farms.
“Under the dynamic leadership and vision of the honourable Chief Minister, Smt. Vasundhara Raje Scindia, this MOU paves the way for socially and environmentally responsible economic growth and prosperity in the State of Rajasthan,” said Pashupathy Gopalan, president, Asia Pacific Operations at SunEdison.
As part of its commitment to the India’s National Solar Mission, Rajasthan’s government has set aside large tracts of land for SunEdison to build the 500MW plants, which will supply renewable energy both inside and outside the state via India’s Solar Energy Corporation and other energy providers. The MoU also requires Rajasthan authorities to expedite the construction of electrical transmission infrastructure in designated solar zones.
Mr Gopalan said the agreement would help create economic opportunity for the citizens of Rajasthan while ensuring a socially and environmentally responsible future for the region.
“SunEdison is committed to the long term development of India’s solar program 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.”
