According to reports, Welspun Energy will set up 32 MW of solar power projects in Punjab. The company was accorded sanctions for this by the Punjab Energy Development Agency (PEDA) through a competitive bidding process.
Welspun Energy’s subsidiary Welspun Solar Punjab will set up two projects of 30 MW and 2 MW each, under the Punjab New & Renewable Sources of Energy (NRSE) Policy 2012. The project is expected to be commissioned during the second quarter of 2014, a statement from the company said.
Welspun Solar Punjab is among the only two organizations which have won the highest capacities under the bid, the statement said.Punjab has an installed solar capacity of 9 MW. With the commissioning of this project Welspun Energy will be annually feeding 56 million units of energy into the state grid for 25 years, the statement said.
The state government will then be facilitating the company with the necessary approvals, permission, land acquisition, registration and clearances for the project. Welspun Energy expects to sign the agreement with Punjab State Power Corporation Ltd soon.
Welspun Energy is part of the $ 3.5 billion Welspun group. The company currently has 111 MW of solar projects under operation and has over 200 MW of solar and wind projects under construction.