On 28th February, 2014, Solar Energy Corporation of India has signed a Memorandum of Understanding (MOU) with AP Industrial Infrastructure Corporation (APIIC) and New and Renewable Energy Development Corporation of Andhra Pradesh for setting up a 1000 MW Solar Park .This would be located in Gattu mandal of Mahbubnagar district and will be one of the largest solar parks in the country. AP Park will be built on plug and play model and solar developers will be able to set up power plants in a much shorter time frame of 3 to 6 months without any botheration of land, water, power evacuation etc. . Mr. Rajendra Nimje ex-IAS, Managing Director of SECI is instrumental in taking this initiative with APIIC.
This park will bring direct investment to the tune of Rs. 8,000 Cr. to Rs. 10,000 Cr. Besides large indirect investment in the region. Financial support from multilateral/bilateral agencies, is also envisaged for setting up the Solar Park, besides some grant from Government of India.
A number of officials participated in MOU signing at APIIC today comprising Sri Rajendra Nimje, ex-IAS, Managing Director, Dr. Ashvini Kumar, Director (Solar), Mr. Sitaram Babu, AGM(IT), Mr. Satyapal Singh , Advisor(Solar). The officials From APIIC who attended today’s event included Sri Jayesh Ranjan, IAS, Vice Chairman & Managing Director, Sri Narsimha Reddy, Executive Director and Mr. Shiva Reddy , Company Secretary. From NREDCAP, Sri Kamlakar Babu, Managing Director and Mr. G. M. Srinivas, General Manager were present.