Tuesday, February 11, 2014: The ministry of new and renewable energy (MNRE) has applied for loan processing from the Washington D.C. situated World Bank, to commence the work of first 750 MW solar photovoltaic project near Jaipur, in the state of Rajasthan. This is a part of the 4GW solar project, that the nation is coming up with the help of six PSUs. According to reports, the department of economic affairs is processing the application and will progress the completed application to the World Bank.
With the proposal, the six state-owned companies also signed a memorandum of understanding to build the plant over the land bordering Sambhar salt lake near Jaipur, in January, this year. The 4GW plant is likely to cover 93 square kilometers of land. The plant will be the largest PV plant in the world.
MNRE estimates reveal that total cost of the proposed first phase is likely to be $1.08 billion. The proposal is still being processed and reviewed by the central government for the project, which is part of the 11 and 12 national five year plans (2007–2017).
