Canadian Solar JV to construct 500 MW India solar plant


A joint venture (JV) between Canadian Solar and two additional Canada-based renewable energy firms has announced plans to invest more than $1 billion in the creation of a 500 MW solar PV plant in India.

The JV Sarus Solar has been created to embark on a lengthy solar development plan in the country, with the inaugural 500 MW plant in the state of Maharashtra set to be the first of many large-scale solar PV parks throughout India.

Penciled in for development in the state’s Thane district, the project is currently seeking power purchase agreements (PPAs) with local utilities. Sarus Solar has also confirmed that it will work with local company Neelkanth Solar Energy to enable a smooth development schedule.

According to Sarus Solar’s head of operations India, Arun Agarwal, India’s bold goal to develop 100 GW of solar PV by 2022 attracted Canadian Solar to the market. "The Canadian firm saw huge potential in the solar sector in India, especially after the government announced its [solar] target," Agarwal said.

"We plan to set up several solar parks of 500 MW in the country. To begin with we will create the first one in Maharashtra with an investment of Rs 6,500 crore."

Approval from the Maharashtra government is still to be forthcoming, but Sarus Solar does not anticipate any problems on that front. Canadian EPC Guycan will develop the plant, Canadian Solar will provide the solar panels and Mackie Research is to fund the initial project in its entirety.

Agarwal added that the Maharashtra plant is expected to be completed within 30 months of its commission. "Once this project begins, we will develop a similar 500 MW park in [the northeastern Indian state of] Jharkhand," he said.

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:

Popular content

Anker launches new all-in-one home storage solution

10 July 2024 Anker has developed a new all-in-one home storage solution with up to 30 kWh of capacity, available in single-phase and three-phase configurations.


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Your email address will not be published.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.