IDFC Projects, a 100% subsidiary of Infrastructure Development Finance Company has signed two memorandum of Understanding (MoUs) on January 13, 2009 at the Vibrant Gujarat Summit 2009.
The company has signed an MoU with the Gujarat State Energy Company (GSECL), where IDFC Projects and Bharat Heavy Electricals (BHEL) will establish, a 1600 MW thermal power plant at Sarkhadi based on supercritical technology.
Another MoU has been signed between the company and government of Gujarat to establish a 10 MW solar power project on build, own and operate basis at a suitable location in Gujarat, in two phases of 5 MW each. The project is proposed to be implemented on a Joint Venture (JV) basis between the partners.
The shareholding of the partners in the Joint Venture Company (JVC) will be in the ratio of GSECL (51%) and IDFC Projects (49%) with management control of the JVC