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5GW solar park approved – globe installed 5.3 GW in 2005

This park is going to be a television show. It will employ 20,000 people. In 25 years, it’ll produce roughly 164 billion kWhrs. It’s equal to the amount of solar power deployed in all of 2005. It’s power output is equivalent to a 1GW nuclear plant. Everything about this project is big.

And the most important aspect is that it makes sense financially – without any incentives – because developers are bidding their 20 year contracts at under 4¢/kWh. No incentives!

SOURCEEarlier this month, the state government gave in-principle approval to the project, which will come up on 11,000 hectares of land along the Gulf of Khambhat. The government projects that the park will attract investment of Rs 25,000 crore and generate employment for 20,000 people. The tender for the first 1,000MW will be floated soon.