According to the government, this project would be the largest of its kind in the world.

Chief Minister Prithviraj Chavan told reporters after the weekly cabinet meeting today that the state government would have 20 per cent equity in the Dhule solar project, as well as in the two other proposed projects in Chandrapur, of 1 mw and 4 mw.

The three projects would cost total of Rs 1987 crore, of which the state government's investment would be Rs 397.40 crore.

Messers KFW, a German financial institution, will provide the remaining funds.

Chavan said the `photovoltaic solar energy project' at Shivajinagar in Sakri taluka of Dhule district in North Maharashtra was going be the largest solar power project in the world.

Of the 150 mw, 100 mw of power will be produced through `cristline' technology, and 50 mw through `thin film technology'.

The project will go on stream by March 31 next year.

Maharashtra Electricity Regulatory Commission (MERC) has fixed the rate of solar energy at Rs 17.91 per mw, but for this project, the rate would be Rs 12 per mw.