Pushing its solar energy generation capabilities to newer heights, the Solar Energy Corporation of India has announced the launch of a 1000 MW solar photovoltaic power generation park on 5000-acre site in the backward district of Mahboobnagar in Telangana, the newly created state out of Andhra Pradesh, at an investment of Rs 10,000 crore. The entire capacity will come up over the next 18 to 24 months for which the local administration will make available land and put the necessary infrastructure in place with an initial investment of Rs 600 crore, Managing Director of SECI, Rajendra Nimje, said detailing that the Corporation has entered into an agreement with Andhra Pradesh Industrial Infrastructure Corporation for the facilitation of the land. For the purpose of financing, SECI has tied up with Japanese lending agency JICA for the initial infrastructure and plans to provide loans at lower interest rates for the developers. This could be 4-5 per cent through various multi-lateral agencies such as the World Bank, Asian Development Bank and also through the Clean Energy Fund. In addition, the corporation has already signed for a 4000 MW solar PV park in Rajasthan, which will be amongst the biggest such parks in the world, and is also planning at least four more solar parks to be located in Odisha, Tamil Nadu, Rajasthan and another one possibly in Andhra Pradesh, he claimed.
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