Dhursar (Rajasthan): Reliance Power plans to invest more than Rs 6,000 crore for solar power generation projects in Rajasthan in the next two years, its Chairman has said.

Anil Ambani group firm Reliance Power commissioned a 40 mega watt solar power plant in Rajasthan, which is the country's largest solar project so far. Another 100 mega watt capacity would be added at the site in the next one year.

"Based on futuristic policy of the Government of India as well as the Government of Rajasthan, we hope to double the capacity to 300 Mega watt in the next 24 months. This would mean our investment at this location would exceed Rs 6,000 crore," Anil Ambani, Chairman of Reliance Power, said after the commissioning of the 40 mega watt plant here on Saturday.

The 40 mega watt plant has been set up at an investment of about Rs 700 crore. The long term power purchase agreement for the project has been signed with Reliance Infrastructure and the power generated would be used for Mumbai. The project would generate more than 70 million units of clean power.

The project is financed with a debt equity ratio of 75:25. While Reliance Power has put in the entire equity, the debt have been provided by the US Exim Bank and the Asian Development Bank (ADB).

"Our Dhursar plant demonstrates the huge potential of solar energy to help India meet its growing energy needs in the most environmentally friendly manner. Reliance Power's vision is to become India's largest green power company and the commissioning of this solar project is the first major step in that direction," he said.

The commissioning of the 40 mega watt plant was done in the presence of Minister for New and Renewable Energy Farooq Abdullah and Rajasthan Chief Minister Ashok Gehlot.

Further, the company is developing a 100 mega watt solar thermal plant at the same site as part of national solar mission.

The two projects would require an investment of about Rs 2,800 crore, which is the largest investment in solar power at a single location, according to the company.

"We now have set our ambition that in the next 365 days, probably on the same day next year, we would have added another 100 mega watt at this site," Ambani said.