Mahindra Solar One plans 50 MW of PV for India


According to a summary of investment (SII), prepared by the International Finance Corporation (IFC), the company is proposing to build three ground-mounted photovoltaic power plants in the Indian state.

Mahindra Solar One subsidiary, Mahindra Suryaprakash Ltd will execute two plants, worth 20 MW and 10 MW, respectively. A third, worth 10 MW, will be undertaken by Solarfield Energy Two Private Ltd, a subsidiary of Kiran Energy Ltd. Since Kiran Energy is also said to be a shareholder of Mahindra Solar One, the two companies will reportedly develop the three projects "in close cooperation".

Overall, project costs are expected to amount to US$105 million. "The proposed IFC investment is for local currency A Loans totaling about $26 million-equivalent. Of this, around USS$15.9 million-equivalent is proposed to be lent to Mahindra Suryaprakash, and the balance US$10.1 million-equivalent to Solarfield Two," said IFC on its website. It adds that the plants will be located on adjoining tracts of land, and will use similar technology.

Rooftop solar

In related news, the IFC has also said it will support a rooftop solar project across five cities in the state of Gujarat. The news follows two pilot projects, worth 2.5 MW each, which were installed in Gandhinagar. The project is expected to help mobilize private sector investment of between $12 million to $14 million.

"The two pilot projects … each demonstrated the viability of generating solar power through a grid-interactive system on rooftops, and will serve as a model for roll-out across the cities of Bhavnagar, Mehsana, Rajkot, Surat and Vadodara. IFC is also developing a policy framework for replicating the rooftop solar concept in Gujarat based on the experience gained in Gandhinagar," explained IFC.

Anita M. George, IFC director for infrastructure in Asia added, "The project will provide economic opportunities to the local residents, whose rooftops will be used for the installation of solar panels."

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.