The Solar Energy Corporation of India (SECI), set up primarily to facilitate the growth of solar power, is going ahead with plans to become a renewable energy developer itself. After having set up a solar project in Rajasthan, it will soon embark on two projects: a 300-MW hybrid project, comprising both solar and wind energy in Andhra Pradesh, and floating solar plants across Kerala (10 MW), Andhra Pradesh (10 MW) and Lakshadweep Islands (5MW).
“We have asked the World Bank to finance 50% of the project cost or about $200 million,” said Ashvini Kumar, Managing Director of SECI. “We will put in the rest of the money ourselves. We have got approval from the Department of Economic Affairs (CEA), which has taken up the matter with the World Bank.” There are few hybrid and floating solar projects in the country. Both are innovations intended to save on land use since every megawatt of installed photovoltaic solar requires about 5-6 acres.