Sungevity Enterprises Pvt. Ltd will invest Rs 630 crore in a 100 MW solar PV project in the state of Mizoram, according to an announcement made last Thursday. A Memorandum of Understanding regarding the plans was signed on the margins of the Mizoram Magnetic Investors Summit on April 21, 2018.
Reportedly, Sungevity’s chairman, Premjeet Sharma, accompanied by senior directors of the company, submitted the detailed Project Report required to set up the solar plant, to Chief Minister Lal Thanhawla, on Thursday. Specific details, including project timelines were, however, not made publicly available.
According to Sungevity’s statement, Thanhawla, speaking on the occasion, thanked Sungevity for the investments made into the state, highlighting that a number of national and multinational corporate organizations are looking into starting business in Mizoram.
In September of last year, Mizoram issued its “Mizoram Solar Power Policy 2017”, which among other things, envisages 10 year PPA’s and incentive schemes reaching Rs. 20lakh/Mw for larger grid-connected solar parks. The programme also entails incentives schemes for employment.