Indian business conglomerate to explore opportunities in solar power

India's Reliance Power, part of the Anil Dhirubhai Ambani Group (ADAG), has indicated about its plans to set up a 100-mw solar power plant.

Anil Ambani, chairman, Reliance Power, said the company is exploring emerging opportunities across alternative environment-friendly technologies such as wind, solar and fuel cell-based power generation.

He added that Reliance Power is planning to set up a one-of-a-kind 100-mw grid interactive concentrating solar power plant. According to local media, this will be under the recent initiatives announced by the Government for grid interactive multi megawatt solar thermal power.

"We are looking to forge an exclusive deal with a technology partner for the solar power foray," Ambani said.

The company plans to bring on stream a total generation capacity of over 28,000 MW in the next eight years. The power generated by these projects will be sold under a combination of long term and medium term Power Purchase Agreements (PPAs). A portion of the capacity will also be reserved for merchant sale. So far, long-term Power Purchase Agreements to the tune of 10,000 MW have been committed.