India’s National Hydro Power Corporation (NHPC) has announced to set up a 600MW floating solar project at one of its largest hydro power complexes. It is reported that the solar project will be set up at the 1,960MW Koyna hydro power project.
The hydro power project is the largest operational hydro project in India with 16 turbines installed. The project is located in the western state of Maharashtra, which enjoys substantial solar irradiation.
Company officials reported that the per-MW capital cost is expected to be around Rs 9-10 crore (US$1.35-1.5 million). The installation cost of ground-based utility-scale solar power projects has fallen to around Rs 5.3 crore (US$0.8 million) per MW.
The company is not worried about funding the project, as it may look to raise funds from the central as well as state governments. Once commissioned, the project would most likely be the largest floating solar power project in the world.
NHPC has plans to set up similar floating solar projects in other states as well. It will set up projects in Kerala, Andhra Pradesh, Tamil Nadu, and Uttar Pradesh. In Kerala, the company plans a 72 MW project, in Maharashtra and Uttar Pradesh, the company plans for a 50 MW project each.
The company has also signed an agreement with the Solar Energy Corporation of India (SECI) to set up 250 MW of capacity. SECI will likely auction off this capacity on behalf of NHPC.