GS Engineering & Construction (GS E&C) has entered India’s solar power generation market as an independent power producer (IPP).
An IPP is a private entity which owns and operates facilities to generate electric power for sale to utilities and end users.
GS E&C announced on Dec. 11 that it plans to invest in the development of a 300-MW solar power plant in the state of Rajasthan, northwestern India.
GS E&C will hold a stake in the 300-MW ISTS-IV photovoltaic solar project, which is promoted by Solar Energy Corporation of India (SECI), a company set up by the Indian Ministry of New and Renewable Energy to facilitate the development of solar energy generating facilities in India.
The total cost of the solar project is US$185 million. GS E&C will invest US$23.5 million for a 49 percent stake. The project is to build a 300 MW solar power plant on a site of about 600 hectare near Jaisalmer in the northwest Indian state of Rajasthan. The solar plant is planned to enter commercial operation in April 2021.
Meanwhile, India is encouraging renewable energy projects and plans to expand renewable energy to 175 GW by 2022.