AP Genco has decided to invest about Rs 1,000 crore to set up 150 MW of solar PV farms in the State as per reports.
“A decision on the proposal by AP Genco to set up solar PV units was taken by the board recently. In addition to the 50 MW planned earlier, we have decided to set up another 100 MW,” K. Vijayanand, Managing Director of AP Genco, said. “We have land for 50 MW unit and are in the process of identifying land for another 100 MW solar PV cluster. AP Genco expects to implement the project within 18 months.”
With the recent decision to offer Rs 6.49 a unit, the Corporation felt this was attractive and decided to set up these projects, he said.
Meanwhile, the corporation is in the process of finalising its accounts to take part in the financial restructuring process announced by the Centre.
The scheme envisages finalising accounts till March 31, 2012, and to be implemented by July 2013.
The State Government also finalised the net metering policy two months ago.
The state had allowed any firm to set up solar PV plants in the state and assured them of Rs. 6.49 per kWh. Read more here.
Andhra Pradesh is currently the fourth largest power generating state in the country.