SunEdison signed a Memorandum of Understanding (MOU) with the Rajasthan Government aimed at establishing 5 GW of capacity in the form of multiple Mega Solar Projects, with the expected capacity of each Mega Solar project 500 MW or more. The MOU comes at an opportune time following the new Solar Policy announced by the Government of Rajasthan, which aspires to create 25 GW of solar capacity in the state in the next few years.
"Under the dynamic leadership and vision of the honorable Chief Minister, Smt. Vasundhara Raje Scindia, this MOU paves the way for socially and environmentally responsible economic growth and prosperity in the State of Rajasthan," said Pashupathy Gopalan, president, Asia Pacific Operations. "SunEdison is honored to be able to contribute its world leading technology and deployment capabilities to support the emergence of India as a global solar energy leader."
SunEdison intends to create state-of-the-art solar facilities to generate and supply solar energy to various organizations inside and outside the State of Rajasthan. Those who will receive renewable energy from the solar projects include nodal entities of the Central Government of the Union of India viz. Solar Energy Corporation of India, NTPC Vidyut Vyaparan Nigam Limited and Power Trading Corporation. SunEdison or SunEdison affiliates, including Yieldcos, are envisioned as the ultimate owner(s) of the solar projects.
The Government of Rajasthan will facilitate the identification of government land suitable for the development of solar PV projects as well as allot land on a long-term lease in accordance with the applicable policies of the state government. Additionally, the Government of Rajasthan will create and provide the necessary electricity interconnection infrastructure. In order to complete these requirements, the government has tasked the Rajasthan Renewable Energy Corporation with expediting and facilitating the allotment of land and all other requisite permits and approvals for establishment of the solar PV projects.
SunEdison will also assist in the development of strategies and policies to facilitate the large scale replacement of existing electric and diesel water pumps with solar powered water pumps via innovative financing and business models. In doing so, farmers will be able to increase their incomes by harvesting crops using the sun's energy.