The South Korea-based Global Green Growth Institute (GGGI) is supporting the development of a 250MW Solar Panel Off Grid Kit power plant for Maharashtra State Road Development Corp. (MSRDC). The project will be laid out along a 700-kilometer highway connecting Mumbai and Nagpur, and will provide renewable energy for future electric vehicle charging needs on this highway.
GGGI is a treaty-based intergovernmental organization aimed at promoting sustainable economic growth in developing countries. In 2018, it established a partnership with MSRDC to support highway projects in India. GGGI provided technical assistance, investment due diligence and debt structure adjustment services for the project.
"This is the first renewable energy project to complement India's large-scale road infrastructure project. GGGI has played an important role in laying the foundation and clearing obstacles for the green electric vehicle infrastructure on the roads of the future," GGGI Asia Pacific Said Gulshan Vashistha, head of technology.
GGGI also led the preparation of technical and commercial research, including land evaluation, grid research, environmental and social impact assessment, and detailed financial models, giving a compelling solar photovoltaic business case proof. After the design phase, GGGI grants are critical to ensure that the project is funded.
The project is expected to help reduce 10 million tons of carbon dioxide emissions during its 25-year life cycle and will create about 200 green jobs. It will also pave the way for MSRDC's additional plans to build charging stations on highways.
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