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INDIA'S RELIANCE INDUSTRIES SIGNS AGREEMENT WITH 3 POWER COS.

AsiaPulse News

| December 01, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

JAIPUR, Dec 1 Asia Pulse - Mukesh Ambani led Reliance Industries (RIL) (BSE:500325) has entered into an agreement to sell solar energy to three three power companies of Rajasthan - Jaipur Discom, Ajmer Discom and Jodhpur Discom.

RIL is setting up a 5 MW solar power generation plant at Khimsar village in Nagaur district. Jaipur Discom Chairman R G Gupta said that the agreement is first of its kind to tap the solar energy for the benefit of consumers in the state.

"According to the agreement, RIL will get Rs 15.78 per unit. The power purchase rate would be Rs 3.67 for 10 years while Indian Renewable Energy Development Agency (IREDA) will pay Rs 11.33 per unit as per the directives of Renewable Energy Regulatory Commission (RERC) to promote solar green energy. Apart from that, the discoms will pay 78 paise per unit to the power generation company," he ...

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