Indian conglomerate Adani Group and steel group Jindal Steel and Power and Limited (JSPL) have submitted proposals for two 1 GW solar plants in the state of Jharkhand, according to The Times of India.
Adani is planning to invest $1.05 billion in a 1 GW solar plant in the state. The Jharkhand Renewable Energy Development Authority (JREDA) confirmed to the newspaper that it had received the proposal but said the exact land requirements for the sizeable project were not yet available.
The state government recently approved a new solar power policy aimed at boosting renewable energy generation in the region. The Times of India points out that under the new solar policy in place, developers have to acquire land on their own.
Adani, headed by founder and Chairman Gautam Adani, has a 40 MW solar power plant in operation in the Kutch district of Gujarat. In July, the company also signed a memorandum of understanding with the Tamil Nadu government to build a 650 MW PV plant.
The Times of India cited unnamed company sources who said Adani was seeking to bridge the power deficit in Jharkhand with its new planned project. The company also reportedly plans to construct a thermal power plant in the state. The proposal follows Adanis announcement in June to invest $7.5 billion in urea, methane and substitute natural gas (SNG) development in the state.
Separately, JSPL has likewise proposed a 1 GW solar plant to be located in Jharkhands Godda district.
Jharkhands solar capacity currently stands at 16 MW. The state government has set a 2 GW solar power generation target by 2020.
As reported last month by Reuters, Adani is also in talks with Japan's Softbank and Chinas Foxconn, maker of Apple's iPhone, on a $3 billion project to manufacture solar cells and modules in India. Negotiations with the companies intensified after a $4 billion deal between Adani and SunEdison fell through, according to the news agency.
Softbank and Foxconn had earlier committed to investing billions in solar projects in India.
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: firstname.lastname@example.org.