Monday, July 14, 2014: Welspun Energy Pvt Ltd (WEPL) has started setting up of 50-MW solar project at Baramati, Maharashtra. The company is coming up with the solar project on a public-private partnership (PPP) model with Maharashtra State Power Generation Company.
According to a press statement, Ajit Pawar, deputy chief minister of Maharashtra, laid the foundation stone in Baramati in Pune district, yesterday.
Under the PPP model, Welspun will be responsible for finance, design, and commissioning of this grid interactive solar power. The statement said that WEPL will invest 60 per cent of project cost and will be entitled to get 62 per cent share in revenue.
Vineet Mittal, managing director of Welspun Energy said, “This is the second project we have built in the state. Like our other projects across the state, we will be bringing our expertise in project development to this one as well.”
The total capacity of 50 MW will be installed in two phases. The first 36 MW will be installed on 74.74 hectares of government land. However, the remaining capacity of 14-MW will be installed after acquisition of balance 29.97 hectares required for the project, said the statement. The project is poised to generate enough energy to power .24 million households.
It is worth mentioning here that Welspun Energy was the highest revenue sharing bidder among the three bids received for the project. The company is also coming up with solar power projects in the states of Tamil Nadu and Punjab.
