Thursday, October 10, 2013: Vikram Solar, which is a solar photovoltaic modules manufacturer has commissioned a 5 MW power plant at Virudunagar, Tamil Nadu. The company has a total capacity of 150 MW already. This new plant has been set up for JVS Exports under the REC (renewable energy certificate) mechanism on a turnkey basis.
“This project would help in deriving substantial tax benefits and end user savings, while considerably lowering the carbon footprint,” Gyanesh Chaudhary, managing director, Vikram Solar told TOI.
This will mark the debut of JVS Export’s in the solar power segment as an independent power producer. Reportedly, the project will generate around 8 million units per annum of electricity, which will be sold to the state utility at the APPC (average power purchase cost) price. At the same time, the renewable energy certificate will be generated, which would be then sold at the REC power exchange.
“The short span of construction improves the return on investment for the project developer by reducing the interest on capital during the construction phase,” Sunil Rathi, president, sales and marketing, Vikram Solar told TOI.
