The World Bank Group's commercial lending arm, International Finance Corporation, today said that it would work on a public-private partnership deal with Gujarat state to design and structure a distributed / rooftop solar power project in the state capital, Gandhinagar.
The project will be the first of its kind in India, for installation of rooftop solar panels to generate 40 megawatts of power for nearly 100,000 households in Gandhinagar.
This project is in keeping with Gujarat's goal of installing 500 MW of solar capacity by March 2014.
The private sector participants in the project would be responsible for financing, construction, operation, and maintenance of the facilities, while IFC's public-private partnership and sustainable business advisory teams will advise the Gujarat Energy Research and Management Institute on the design and structuring of the public-private partnership project.
Following the pilot project for a 5-megawatt solar installation, the government will roll out the programme in the entire city.
The 5-megawatt solar installation under the pilot project is expected to reduce greenhouse gas emissions by about 6,000 tons a year and mobilize private sector investment, IFC said in a statement, without disclosing ther financial implications of the project.