According to reports, Vikram Solar, a manufacturer of solar photovoltaic modules with a 150 mega watt manufacturing capacity has commissioned a five mega watt power plant at Virudunagar, Tamil Nadu for JVS Exports under the REC (renewable energy certificate) mechanism on a turnkey basis.
The solar photovoltaic power plant is JVS Export’s first foray into the field of solar power as an independent power producer. The project is expected to generate approximately eight million units per annum of electricity that would be sold to the state utility at the APPC (average power purchase cost) price and simultaneously the renewable energy certificate will be generated which would be later sold at the REC power exchange. JVS which is into home textiles owns and operates several windmills that provide energy to the local electric cooperative. The photovoltaic project was completed within 100 days.
“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 said. The company has installed another large (40 mega watt) solar power plant in Bap, Rajasthan.