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In a first of its kind venture, six PSUs (public sector undertakings) including state-run BHE (Bharat Heavy Electricals Limited) and PGCIL (Power Grid Corporation of India Limited) on January 29 2014 announced joining hands to set up world’s largest 4,000 MW ultra mega solar power project in Rajasthan. In the first phase of the project, 1000 MW would be made operational. The project will be the largest single location solar plant spread across 19,000 acres at Sambhar in Rajasthan. It entails an investment of Rs. 7,500 crore in the first phase. A SPV (special purpose vehicles) in shape of a joint venture company would be set up for the project. The JV will have equity of 26 per cent from BHEL, 23 per cent from SECI (Solar Energy Corporation of India), 16 per cent from SSL (Sambhar Salt Ltd), 16 per cent from PGCIL, 16 per cent from SJVNL (Satluj Jal Vidyut Nigam) and 3 per cent from REIL (Rajasthan Electronics & Instruments Limited).