NTPC to setup a 600 MW solar power project in Maharashtra

India: National hydroelectric power corporation (NHPC), plans to install floating solar project of 600 MW capacity at Koyna hydel power complex in Maharashtra in order to expand their renewable energy portfolio. The company is carrying out the technical and financial feasibility study for the project. The company is planning to setup solar panels with pumped storage system. The estimated cost of this project per MW is expected to be around 9-10 crores.

Techsci Research depicts that the increasing number of upcoming solar projects are anticipated to drive the demand for solar power equipment in India in the next five years. India has taken huge strides over the past three years in developing its solar potential by implementing green growth agenda along with commissioning of solar power plants in the country. As of FY17, NHPC aims to develop a total of 188MW solar projects across the country. This would further boost the demand for solar power equipment in the near future.

According to a recent released report of TechSci Research, “India Solar Power Equipment Market Forecast & Opportunities, 2020”, the solar power equipment market in India is projected to surpass USD4 billion by 2020, wherein solar energy would be generated by employing photovoltaic (PV) and concentrated solar power (CSP) technologies across the country. Constantly improving solar equipment technologies, advanced manufacturing processes for production of hi-tech equipment and anticipated decline in equipment prices is projected to further drive the solar equipment market over the next five years.