July 13, 2014 - Welspun Energy Pvt. Ltd. will soon commence construction of its 50MW solar project in Maharashtra. Honorable Shri Ajit Pawarji, Deputy Chief Minister of Maharashtra and one of India’s statesmen, today laid the foundation stone in Baramati in Pune district.
On the momentous occasion Honorable Shri Ajit Pawar, Deputy Chief Minister Maharashtra said, "Addressing climate change while balancing development needs is a critical priority area. It is our obligation to focus on energy security as well as relook the way we have been using energy. We need to look for ways to reduce our carbon footprint and efficiently use energy sources. The government has been systematically working on its green energy agenda. Maharashtra has laid focus on solar and wind energy to secure energy access for the present as well as the future. The Baramati 50MW solar project will be a major step in this direction and will certainly help to meet state's green energy goals."
Mr. Vineet Mittal, Managing Director Welspun Energy Ltd. said, "Committed to energy security, we have been setting up solar power projects pan India. Moving forward we are expanding our commitment to support the illustrious state of Maharashtra in meeting its RPO obligations. 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. Best in class engineering practices and project management excellence contributes towards our success. We are committed to build this 50MW project as the highest generating one in the country."
Welspun Energy is setting up the 50MW project on a public-private partnership (PPP) model with Maharashtra State Power Generation Co. Ltd (Mahagenco). The power producer will be fully responsible for part-finance, design, and commissioning of this grid interactive solar power. WEPL will invest 60% of project cost and will be entitled to get 62% share in revenue.
The 50MW capacity will be installed in two phases. Part 36MW will be installed on 74.74 hectares of government land. Balance 14MW capacity will be installed after acquisition of balance 29.97 hectares required for the project. Estimated 83,220 tonnes of carbon dioxide emissions will be mitigated each year. For the next 25 years, the project will generate enough green energy to power 24 million households. Among the three bids received for the project, Welspun Energy had emerged as the highest revenue sharing bidder.