PP
to de – carbonize State’s energy portfolio by 2015 through 100 MW Solar PV Power
project
New
Delhi, November 05, 2012 Welspun Renewables Energy Ltd (WREL) has inked an MoU
with the Govt of Chattisgarh for installing 100 MW Solar Power project.
Welspun
Energy Ltd., through its subsidiary Welspun Renewables Energy Ltd., has signed
an MoU for a 100 MW capacity Solar Power project. The MoU was signed recently
in Raipur. The project is to be commenced in 2015, entailing an estimated
investment of Rs.1000 crores. With this project WEL would achieve an annual CO2
emission reduction of 158118 tonnes.
The
Government of Chattisgarh will facilitate the necessary approvals, permission,
land acquisition,
registration & clearances for the project.
Welspun
Energy Ltd has all along stressed on a widespread diffusion of renewable energy
technologies. India’s foremost developer has been in talks with various state
governments for expansion of their renewable energy generation portfolio.
Recently, the organization had won Asia’s biggest solar power project of 130 MW
through bidding, to be developed in Madhya Pradesh.
“A
careful balance needs to be maintained for meeting India’s accelerating energy
needs. Decarbonizing production and accelerating economic activity has to be
balanced. The state governments have to adopt a proactive role to meet their
RPO targets. Green energy can be made affordable if more and more states take
initiatives to expand their renewable portfolio.
Dependence
on fossil fuels must decrease. We want to bring a change in this power equation
and with this MoU we are taking our first step in this direction in
Chhattisgarh.” said Mr. Vineet Mittal, Co-founder and Managing Director of
Welspun Energy Ltd.
WEL
is confident that it will be able to source appropriate funding for this
project in time. By successfully commissioning its solar projects within
committed timelines, the organization has been able to earn invaluable support
from private investors. Testament to this is the recent financial closure of
Welspun Energy’s 50 MW solar project in Rajasthan; a consortium of banks led by
Central Bank of India have supported this project. Mr. Mittal, however shared that
uncertain policy framework, payment security issues etc. create edginess in
investors to support power projects.
With
the signing of this project, WEL’s tally of projects to be developed has
increased. Welspun Energy is presently developing more than 250 MW solar and
800 MW wind capacity in states like Rajasthan, Madhya Pradesh, and Karnataka.
Innovations in engineering, project execution and on-ground decision making
have helped Welspun Energy to deliver quality solutions within the prescribed
time lines. This is a standard which most IPPs in India aspire to achieve.
Welspun Energy plans to commission 1.7 GW of solar and wind power projects
within the next three years.
About
Welspun Energy Ltd. and more on this article, please visit www.welspunenergy.com
For
further information, please contact:
Ms.
Soni Shrivastav, VP Corporate Communications
Email:
soni_shrivastav@welspun.com
Tel:
+91 (011) 66034614
Source: Internet
No comments:
Post a Comment