Sarus Solar which is a joint venture of three Canadian firms is planning to invest around Rs 6,500 crore for setting up a 500 MW solar photo-voltaic farm in Maharashtra.

Arun Agarwal, Sarus Solar Head of Operations (India) said, “The Canadian firm saw huge potential in the solar sector in India especially after the government announced its target of 100 GW capacity by 2020. We plan to set up solar parks of 500 MW each in the country. To begin with, we plan to set up our first one in Maharashtra with an investment of Rs 6,500 crore.”

Further he said that the firm has already bought 16 acres of land on lease for 25 years from Dhanashree Infratech.

“We are now awaiting Maharashtra government’s approval for the project. We plan to supply the entire power generated to the state and we are working out on the possibilities of signing power purchase agreements with discoms,” he added.

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