The Shapoorji Pallonji (SP) group is likely to begin work on a 50 MW solar power project in Egypt. The plant will be owned by the group company, Shapoorji Pallonji Infrastructure Capital Company Ltd.
The company bagged the project by responding to an Expression of Interest. The power purchase agreement will be signed with the Egyptian Electrical Transmission Company (EETC), a state-owned power transmission at distribution utility, for a tariff of US cents 14.38, which translates to about Rs. 9.
The group is developing a solar portfolio in India too. It is close to signing a PPA for a 10 MW project in Telangana (tariff of Rs. 6.90a kWhr), but its big solar projects, around 70-80 MW, are likely to come up in Tamil Nadu.
This, by far, is the second major foray by an Indian company in the solar sector in Africa. Chennai-based Voltech group has announced that it would put up a 10 MW solar project in Zambia and is working on a 20-year PPA with a Rs. 12 tariff.