Sources said that the government plans to impose a 20 per cent basic customs duty on imported solar panels to boost domestic industry. Maximum Solar industries were dependent on imported equipment from China.
Kolkata: Coal India Limited (CIL) and NLC India will jointly develop 3,000 MW of solar power assets with a potential investment of around Rs 12,000 crore, sources said on Saturday.
The two state-run companies on Friday said they would build a JV to develop 5,000 MW of solar and thermal power assets across the country.
A solar JV has already processed the project with an initial investment of around Rs 10 lakhs. Once the company is formed, the respective company boards will decide the final outline of the project. Currently, Solar CAPEX cost is about 4 crores rupees for each MegaWatt.
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Sources said that the government plans to impose a 20 per cent basic customs duty on imported solar panels to boost domestic industry. Maximum Solar industries were dependent on imported equipment from China.
He said that the thermal power project would be taken up after due diligence by a separate JV.
Officials said CIL has already installed 4.83-MW capacity solar projects and these plants are producing about 4.6 million units of renewable energy.
“This JV is to utilize the core capabilities and infrastructure of CIL and NLCIL for building power assets to utilize renewable sources of energy.
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According to the proclamation of Coal India Limited, the JV company will assure that this venture will bring sustainable development and will help in achieving the best solar power for both the companies.
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