Russian Energy Agency (REA) and Solar Energy Corporation of India (SECI) plan to collaborate on several large-scale solar photovoltaic (PV) plants in India through 2022, starting with an up-to-500-MW project. The two entities signed a memorandum of understanding (MoU) on December 24, outlining the terms of the partnership. One of its goals is to prepare a roadmap for the development of both solar projects and equipment production facilities.
The Russian side will take responsibility to provide the needed technologies and low-cost financing for the projects, while SECI will help secure the required government permits. The parties have formed a working group to consider the alliance’s next steps.
India has officially committed to boost its renewable energy capacity to 175 GW by 2022, including 100 GW of solar.