Another public sector power generation company in India has announced an ambitious foray into solar power.
India’s National Hydro Power Corporation or NHPC Limited has announced plans to set up 600 MW floating solar power project at one of its largest hydro power complexes. According to media reports, the company will set up the solar power project at 1,960 MW Koyna hydro power project.
The hydro power project is the largest operational hydro power project in India with 16 turbines installed. The project is located in the western state of Maharashtra which enjoys substantial solar radiation.
Company officials reported that the per MW capital cost is expected to be around Rs 9-10 crore (US$1.35-1.5 million). The installation cost of ground-based utility-scale solar power project has fallen to around Rs 5.3 crore (US$0.8 million) per MW.
The company is not worried about funding the project as it may look to raise funds from the central as well as state governments. Once commissioned, the project would most likely be the largest floating solar power project in the world.
NHPC has plans to set up similar floating solar power projects in other states as well. It will set up projects in Kerala, Andhra Pradesh, Tamil Nadu and Uttar Pradesh. In Kerala the company plans 72 MW project, in Maharashtra and Uttar Pradesh 50 MW project each.
The company has also signed an agreement with the Solar Energy Corporation of India (SECI) to set up 250 MW capacity. SECI will likely auction off this capacity on behalf of NHPC.