The 1,000 MW (1 GW) world’s largest single location solar park in Kurnool, Andhra pradesh, was successfully set up by AP Solar Power Corporation Ltd through a joint venture special purpose vehicle in which Solar Energy Corporation has 50% stake, AP Genco has 41 % and New and Renewable Energy Corporation (NREC) has 9%.
Multinational Companies namely M/s SunEdison, USA and M/s Soft Bank Energy, Japan won the bids for 850 MW at a rate of Rs 4.63 per kwh in international competitive bidding and established 500 MW and 350 MW respectively. The remaining 150 MW was implemented by Azure Power (100 MW) and Prayatna Developers (50 MW).
Total land of 5683.22 acres was acquired in a record period of nine months and nearly Rs 7,000 crore of investment was made for setting up this solar park and around 2,100 MU of solar power will be generated every year.