Amaravati: Energy firms Sprng Energy, Ayana and SoftBank Energy will set up a 750 MW Solar Power Park at NP Kunta in Anantapur district soon. It has been targeted to complete works within 8 to 10 months and start power production from the NP Kunta Solar Power Park.

The State government has already identified land and some extent of land has already been handed over to the National Thermal Power Corporation (NTPC) for the proposed solar park.

AP Solar Power Corporation Ltd Managing Director G Adisheshu told The Hans India that as the APDISCOMs entered into an agreement with the NTPC a few days ago, works of solar power park would begin soon. The NTPC has issued LoA to the Sprng Energy, Ayana and SoftBank Energy to begin the works at NP Kunta, officials said.

The public sector giant NTPC has proposed solar park with a capacity of 1000 MW at NP Kunta in Anantapur district. It established 250 MW of solar park under phase- 1 and the remaining (750 MW) has been in pending as the State government rejected tariff rate (Rs 4.60/ unit) proposed by the NTPC.

In the recent auction by the NTPC, Sprng Energy, Ayana and SoftBank Energy have emerged as lowest bidders to set up the 750 MW of solar park in Anantapur.

The Sprng Energy Private Limited quoted a tariff of Rs 2.72 per unit, Ayana Renewables and SoftBank Energy quoted Rs 2.73 per unit each in the auction which concluded in May. Adisheshu said the solar power tariff of Rs 2.72 per unit (without VGF – viability gap funding) could be considered as a reasonable rate in view of apprehensions that the price of solar panels may be increased.

The NTPC has entered into power purchase agreement (PPA) with APDISCOMs recently for procurement of power at a rate of Rs 2.72 per unit. The State government identified 6,907.05 acres in NP Kunta for the solar park and 6,692.97 acres has already been handed over to the NTPC. Common infrastructure works such as approach road and water system works were completed.

The State government has targeted to achieve a total capacity of 4,000 MW of solar power by 2020. “We can reach this target by the end of 2019. Now we have capacity of Rs 1,550 MW of solar power. The works of 400 MW of solar power park at Galiveedu has almost been completed. The Solar Energy Corporation of India is going to issue tenders for another 750 MW of solar power park in the State,” Adisheshu said.