The Board of Directors of Godawari Power and Ispat Limited have approved the proposal to set up a captive Solar PV Power Plant of 250 MW capacity in Raigarh District of Chhattisgarh.
The project will see an investment of Rs 750 crore. The project will be funded mainly out of internal accruals. The project shall be funded mainly out of internal accruals.
The solar plant shall come up over an existing idle land parcel of 362 hectares acquired by the company in the FY 2011-12.
The power generated in this project shall be captively consumed in the Company’s existing plant situated at Silatra Industrial Area, Raipur, Chhattisgarh.
The plant is expected to be commissioned by December 2022 and generate 370 million units of electricity per annum. The power generated from the solar project will replace the high-cost thermal and grid power, and be utilized for the enhanced billet capacity in the company’s existing plant situated in the Raipur district of the State.