The Indian state-owned energy company SJVN has signed a Memorandum of Understanding (MoU) with the Uttar Pradesh State Industrial Development Authority (UPSIDA) for the development of a 700 MW solar power plant in Ghatampur, near the city of Kanpur in Uttar Pradesh (northern India). SJVN will invest about INR34bn (US$412m) in the project and the electricity produced will be mainly sold to Uttar Pradesh state industries at an economical rate.
In November 2022, the Uttar Pradesh State Government released its new Solar Energy Policy scheme, which aims to add 22 GW of solar capacity by 2027, with the help of a INR400bn (US$4.9bn) investment in the solar sector. The state plans to instal 14 GW through solar parks 6 GW through rooftop installations and 2 GW through the PM-KUSUM, a scheme aimed at setting up solar pumps and other new power plants across the country.
At the end of 2021, at the national level, solar and wind accounted for over 20% of installed capacity in India, with respectively 49 GW and 40 GW, while hydropower capacity surpassed 51 GW. India plans to increase its non-fossil fuel capacity to 500 GW and meet 50% of its energy requirements from renewables by 2030.
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