US agency signs MoU with Indian company for 41 MW power project in Andhra
A US trade development agency today signed a memorandum of understanding with an Indian private company for the development of a 41-MW hybrid wind, solar, and energy storage power plant in Andhra Pradesh.
The MoU was signed between US Trade and Development Agency (USTDA) and private sector firm IL&FS Energy Development Company Limited (IEDCL) on the sidelines of the Indo-Pacific Business Forum hosted by the US Chamber of Commerce, where US Cabinet secretaries and senior leaders from government and business discussed potential areas of collaboration in the Indo-Pacific.
IEDCL has selected Black & Veatch, a Kansas-based engineering firm, to carry out the technical assistance for the project that will advance pre-implementation and pre-construction activities for the plant, which is expected to lead to a 1,040 MW installation, a media release said.
This project is a follow-on to previous USTDA support that assessed the technical, financial and commercial viability of wind, solar, and energy storage hybrid power projects in Gujarat and Andhra Pradesh.
Following the completion of that analysis, IEDCL and the government of Andhra Pradesh signed a Memorandum of Understanding to develop the 1,040 MW project.USTDA Director, Congressional and Public Affairs, Thomas Hardy and IEDCL Chief Operating Officer, Keshav Prasad participated in the signing ceremony.
We appreciate the opportunity to support India's energy infrastructure goals, said Hardy, while at the same time, creating new opportunities and market access for US industry. Grid modernisation through hybrid projects like this one will help promote sustainable economic growth in India, and support the government's goal of reaching 175 GW of capacity from renewable sources by 2022, said Jason Abiecunas, Black & Veatch's Director of Distributed Energy Resources.
Hybrid solutions, by optimising output and reducing variability, will also improve the bankability of renewable energy projects, he said.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.