After success in unconventional energy generation such as coal-bed methane (CBM) and the hydrogen generation programme in the United Kingdom (UK), Essar Power Ltd plans to enter the renewable energy sector of India with a 90 MW solar plant in Datia district of Madhya Pradesh, reports The Economic Times.
The proposed solar photovoltaic project will be set up across 105 hectares of land at an investment of Rs 300 crore.
The project will be executed in two parts – 33.7 MW and 56.17 MW and expected to be completed by June 2022.
“The board of Essar Power Ltd, an investee company of Essar Global Fund (EGFL), has approved an investment of Rs 300 crore in a 90 megawatt (MW) PV Solar power plant in Madhya Pradesh, marking the fund’s foray into renewable energy,” CEO Kush Singh said.
“We have taken this step in line with the major thrust given by the Government of India in promoting and achieving the ambitious target of an installed capacity of 450 gigawatts of renewable energy by 2030,” he said.
Essar Power has a current operating capacity of around 3,185 MW and has invested about Rs 32,000 crore in the power portfolio.