From pv magazine India
The South Korea-based Global Green Growth Institute (GGGI) is supporting the development of a 250 MW solar PV plant for Maharashtra State Road Development Corp. (MSRDC) along a 700-km stretch of highway connecting Mumbai with Nagpur. The project will provide renewable energy for the roadway's future e-mobility requirements.
GGGI is a treaty-based intergovernmental organization that promotes sustainable economic growth in developing nations. In 2018, it entered into a partnership with MSRDC to support the Indian highway project. GGGI has provided technical assistance, investment due diligence, and debt structuring for the project.
“This is the first renewable energy program that is aligned with a large road infrastructure project in India. GGGI has played a significant role in setting the foundation and paving the way for future green e-mobility infrastructure on the highway,” said Gulshan Vashistha, GGGI’s regional technical lead for Asia and the Pacific.
GGGI also led the preparation of technical and commercial studies, including land assessments, grid studies, environmental and social impact assessments, and detailed financial models that demonstrated a convincing business case for solar PV. Beyond the design stage, GGGI’s contribution was crucial to securing access to finance.
The project is expected to help avoid 10 million tons of CO2 emissions during its 25‐year lifetime and will create approximately 200 green jobs. It will also pave a path for MSRDC’s additional plans to construct charging stations on the highway.
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