Power utility CESC Ltd has decided to foray into renewable energy and plans to set up solar plants across the country.
Last year, the RPG Group flagship had ventured into hydel power.
As per the scheme of things, CESC would set up solar generation capacity of 1,000 MW in the next five-seven years for an investment of approximately 10,000 crore in locations including Rajasthan.
To begin with, the company would start work at Bikaner in Rajasthan where it would be setting up a 200-MW solar power plant at an investment of Rs 2,000 crore.
CESC vice chairman Sanjiv Goenka told reporters here on Friday after the company’s annual general meeting that it has already acquired a 200-acre tract in Rajasthan and would take the land holding up to 1,000 acres in the medium term across locations.
The project will be developed over a period of five years and the company is in talks with some firms for technology partnerships, Goenka said.
Meanwhile, in its bread-and-butter thermal power generation business, the company is likely to add about 1,200 MW by 2013. This will include a 600 MW (2 x 300MW) unit at West Bengal's Haldia for which the company has received coal linkages and already achieved financial closure for a Rs 2,400 crore loan from IDBI Bank and ICICI Bank.
{{/usCountry}}Meanwhile, in its bread-and-butter thermal power generation business, the company is likely to add about 1,200 MW by 2013. This will include a 600 MW (2 x 300MW) unit at West Bengal's Haldia for which the company has received coal linkages and already achieved financial closure for a Rs 2,400 crore loan from IDBI Bank and ICICI Bank.
{{/usCountry}}The plant at Chandrapura (600MW x2) in Maharashtra is also slated to start generation by that time. CESC currently produces about 1,225 MW.