Friday, August 18, 2017

Table of Contents for Powerzone





POWERZONE

Spinning into solar orbit

 

Welspun’s recently inaugurated 151 (DC) MW solar plant in Neemuch must surely count as a watershed project in India’s clean energy sector.

 

Welspun Energy Ltd (WEL), which is among India’s leading power generating companies, has formally inaugurated its 151 (DC) MW solar project – commissioning it 8 months ahead of schedule. Located in Neemuch district of Madhya Pradesh the solar project, said to be among the largest in the world, is expected to contribute majorly to the nation’s energy security. Gujarat Chief Minister Narendra Modi inaugurated the project along with Madhya Pradesh Chief Minister Shivraj Singh Chouhan.

 

It may be recalled that WEL, through its subsidiary, Welspun Solar Madhya Pradesh Private Limited (WSMPPL) had won the project against 12 qualified bidders. Also the largest solar power project awarded to any industry player in India Neemuch will enable the powering of 6,24,000 homes in Madhya Pradesh besides helping to mitigate 2,16,372 tonne of carbon emission annually.

 

Speaking on the occasion Gujarat Chief Minister Narendra Modi said, “Projects like these are a perfect example of what should be done to achieve these goals. Creating clean energy infrastructure will, in turn, help create employment opportunities for people, healthy competition in the market and the community at large will benefit in several ways.”

 

Shivraj Singh Chouhan, Chief Minister of Madhya Pradesh, added, “This is a milestone project in MP that sets the standard for other industry players to develop such large scale projects across the nation.”

 

Vineet Mittal, Managing Director Welspun Energy Ltd. spoke of his company eyeing more business opportunities, “We are committed to supplying clean energy to power India’s growth and are continuously vying for large projects like this one. This 151 (DC) MW solar project is an achievement for us and places our nation on the world map of leading renewable energy producers. Our engineering expertise has enabled us to complete the project ahead of schedule. This project will help India meet its clean and green power requirements substantially.”

 

The Neemuch project is being seen as a role model for solar projects in India. It is part of government’s continued efforts to increase clean energy adoption. Further, few UMPPs are also in pipeline across various parts of the country to bring sustainable energy to the forefront.

 

The high quality solar and wind development projects are a platform to establish sustained process in place. With this responsibility at hand, Welspun has earmarked about Rs 15,000 crore of funds to set up 1.75 GW of renewable energy projects over the next three years. WEL has successfully developed its projects well before their scheduled deadline and at a lower cost ratio as compared to other players in this sector. The company has so far built a pipeline of more than 600 MW clean energy, of this 217 MW clean energy projects are operational.

 

PROJECT FACTSHEET

  • The 151 MW (DC) solar plant at Neemuch is one of the largest solar plants in the world spread across 800 acres of barren terrain.
  • WEL secured long term project funding of Rs 885 crore through consortium of leading financial institutions for this project.
  • Its financial closure was the single largest deal in renewable energy and infrastructure space and was 1.3 times over-subscribed
  • The entire solar project, has been commissioned eight months ahead of the scheduled May 2014 deadline
  • Welspun Solar Madhya Pradesh Private Limited (WSMPPL) had won the project against 12 qualified bidders. This is the highest capacity to be awarded to any Indian entity in solar space till date
  • From September 2013 till the scheduled date of commissioning, 168 million units of much needed clean energy will be pumped into the state grid
  • Approx Rs 175 crore savings achieved at forbearance price for RECs through RPO compliance within FY2013-2014
  • This project will enable powering of 6,24,000 homes
  • With the commissioning of this project, an estimated 216,372 tonnes of carbon will be mitigated annually



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