NHPC is in the process of diversification with new solar power projects in various states. Promoters’ Agreement has been signed on 17th Oct 2014 at Lucknow between Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) and NHPC Limited for setting up a Joint Venture Company for implementation of Solar Power Projects in Uttar Pradesh. The agreement was signed by Sh. Raj Kumar, Executive Director (Business Development) on behalf of NHPC and Sh. Kumar Ravikant Singh, Director, UPNEDA on behalf of UPNEDA in the presence of Sh. Jiwesh Nandan, Principal Secretary (Information Tech & Electronics, Additional Energy Source and Rural Engineering Deptt., Govt of Uttar Pradesh and other senior officials of UPNEDA and NHPC. In the initial phase, a 50 MW grid connected Solar Power Project at Parason (Tehsil – Kalpi), District – Jalaun, Uttar Pradesh will be implemented. The Memorandum of understanding for this was signed on August 8, 2013 between UPNEDA and NHPC. 275 Acres land for this project is being provided by UPNEDA as a part of their equity share in JVC. The estimated project cost is Rs. 400 Crores. The Project will be completed by mid of 2016. This is the first solar power project of NHPC. In May 2014, NHPC had signed an agreement (Please see http://pressreleasewatch.blogspot.in/2014/05/nhpc-ltd-and-govt-of-kerala-to-set-up.html ) with Kerala Electricity Board for implementation of 50 MW grid-linked solar power project at West Kallada Panchayat in Kollam District of Kerala. This will be the world’s largest floating solar power plant in Kerala and the technical know-how for this project will be provided by Kolkata based Renewable Energy College. The estimated $64–$72 million project will be set over reservoirs and lakes in the southern state of Kerala.