Welspun Renewables Energy Limited, one of the leading renewable energy project developers in India, has now commissioned its first solar power project in the northern state of Punjab.
A 34 MW (DC) solar photovoltaic (PV) power project was commissioned by Welspun Renewables in Punjab recently under the state’s solar power policies. The power plant includes 3 projects awarded to the company in 2013 solar power auction.
The company states that the project was commissioned well before the deadline following 5 months of construction. The project is expected to generate 48 million units of electricity every year and offset greenhouse gas emissions equivalent to more than 1.3 million tonnes of carbon dioxide.
The projects awarded to Welspun Renewables were part of Punjab government’s first competitive auction for solar power projects. The company secured the rights to develop the projects at tariffs between Rs 8.33 and Rs 8.56/kWh (US¢13.01-13.37/kWh).
Welspun Renewables has been a regular participant of competitive solar power project auctions over the last few years and has won projects in several states. The company also operates India’s largest solar power project developed by a single company. The 151 MW solar PV project is located in the state of Madhya Pradesh and was commissioned under the state’s solar power policy. The project secured debt financing from several international development banks and equity infusion from GE Energy Financial Services.
Welspun Renewables had, in February, pledged to add 11 GW of renewable energy capacity in India over the next 5-7 years; this includes 8.66 GW of solar power capacity and 2.34 GW of wind energy capacity.
