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Veer Energy plans Rs 3 billion solar projects

According to reports, Veer Energy and Infrastructure, a Mumbai-based wind power developer, plans to invest Rs 300 crore into solar energy projects in Gujarat.

The company has acquired 200 acres at Shivlakha village of Kutch, Gujarat, to set up 25 MW solar energy project. The project site is about 1.5 km away from its sub-station at Chandrodi village. Veer Energy has collaborated with Astom AG Swiss, an expert in solar energy technologies.

The company also plans to set up a rooftop solar project in the Sanand district of Gujarat. It will install 400 thin-film panels of 58.5 watts each for a rooftop project in joint venture with US-based New Millennium Solar Equipment Corporation. The unit has already imported thin film panels from NMSEC for the project.

“With the successful completion of our pilot solar project, the company would then focus on developing big league solar projects,” said Jigar Shah, CFO, Veer Energy.

The company has already completed wind farm project 200 MW and another 115 MW is in the pipeline, he said.

Gujarat has enormous potential for wind power generation. The average velocity of wind in the State is just less than seven metres per second, said Shah.

Besides this, Gujarat has an investor-friendly policy. It has the longest coast-line in the country and a desert in Kutch. This makes land availability for the wind power projects, he said.

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