According to reports, Welspun Energy, a part of the USD 4 billion Welspun Group, has shown interest in participating in government’s programme of setting up 4,000 MW solar ultra mega power projects in the country.
“As a clean energy development company, we are always looking at opportunities to set up solar and wind projects in the country. The government’s recent programme of setting up solar UMPPs gives us an opportunity to expand our capacities and become a leading clean energy developer,” Welspun Energy Managing Director Vineet Mittal told PTI here.
The Ministry of New and Renewable Energy has embarked on a plan to set up 4,000 MW solar ultra mega power projects (UMPP) and has identified Rajasthan, Gujarat, Ladakh and Kargil for the same. This is a part of government’s target of achieving 20,000 mw of solar capacity by 2020.
The government has already started groundwork on the first UMPP in Rajasthan, and tenders for the first phase of the project for developing of 1000 mw are likely to be floated soon.
A joint venture of 6 PSUs, including BHEL, Solar Energy Corporation, Power Grid Corporation, Satluj Jal Vidyut Nigam, Hindustan Salts Rajasthan Electronics and Instruments (REIL), has been formed to execute the project on engineering procurement and construction (EPC) basis.
For the remaining 3000 MW, the government plans to invite bids for developing plants of 500 MW each where developers will have to construct and maintain the plants.
“We have plans to develop solar projects of 1,000 MW and we are on track to achieve this target. We will reach a capacity of 320 MW by the end of this calendar year and currently 150 mw of projects across various states including Madhya Pradesh, Rajasthan, Maharashtra, Gujarat, Karnataka, Tamil Nadu, etc. We will now bid for the UMPPs to increase our solar capacity,” he said.
The company had set a target of developing 1,000 MW of wind and 750 MW of solar power projects, but has now revised it to 1,000 mw of solar and 750 mw of wind power, he said.
When asked about the company’s capex plans to achieve its target, Mittal said, “We have already got board’s approval for raising Rs 15,000 crore. So raising funds will not be a problem. Also, we are profit making company. So we are well positioned to achieve the target”.