According to reports, the Bombay Stock Exchange and National Stocks Exchange-listed Ujaas Energy, formerly M&B Switchgears, has drawn up an ambitious plan of adding 200 mw to its solar capacity within FY15. That’s not all. The Indore-headquartered renewable energy company is also gearing up to mark its overseas footprint, by executing solar project abroad, joint managing director Vikalp Mundra says.
He however, refuses to divulge the specific details of the company’s overseas plans at this point of time.
Driven by a mission called “Own Your Sun”, the company is in the process of setting up ‘Ujaas Park’ at Rajgarh in Madhya Pradesh, that promises to provide complete plug & play solution to the investor for putting up a solar power plant at an affordable cost.
The proposed services at the park would include land identification, registration, EPC, O&M, power sale, identifying third party buyer, REC trading and the likes.
Ujaas Energy has recently told the BSE that it had just commissioned a 105 mw installed solar power unit at Rajgarh, Madhya Pradesh.
“India’s dream of achieving energy self-reliance will be made possible by the growth of solar and other renewable power generation and we are pleased to be a part of this dream,” said Mundra.
The National Solar Mission and the National Tariff Policy envisaged around 20 GW solar power by 2022 under the aegis of the ministry of power.
And it requires installation of 34,000 mw of solar power by 2022 to cater the Solar Renewable Purchase Obligation of the country.
Under a structured plan to contribute to this plan, Ujaas Energy was the first company to have installed a 2 mw solar PV power plant in the country under REC mechanism. The company is bullish on the REC mechanism, he said.
Mundra said that the company has plans to reach a solar capacity of 2000 mw over the next 2-3 years and is moving in that direction.