Mumbai, July 3rd, 2013 – Welspun Energy Ltd. (WEL) has been awarded 32 MW solar capacities by the Punjab Energy Development Agency (PEDA) through a single stage competitive bidding. The project is expected to be commissioned during the second quarter of 2014.
As part of the selection process bidders were also evaluated on their technological competence. Welspun Energy’s subsidiary Welspun Solar Punjab Pvt. Ltd. (WSPPL) emerged among the leading two organizations which have won the highest capacities. Cumulative 32 MW capacity was awarded to WEL as twin projects of 30 and 2 MW each, under the Punjab New & Renewable Sources of Energy (NRSE) Policy 2012.
Presently the State of 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 clean emission free energy into the Punjab state grid, for subsequent 25 years. Approximately 53261 tones of CO2 emissions will be mitigated by this project on a yearly basis.
Speaking on the occasion Mr. Vineet Mittal, Co-Founder & Managing Director Welspun energy Ltd. said “We are happy to partner with the state of Punjab in delivering on our renewable energy commitment. The support shown by the Minister of Non-Conventional Energy Shri Majithia affirms that India will soon be a world leader in solar energy diffusion.”
The state government will be facilitating WSPPL with the necessary approvals, permission, land acquisition, registration & clearances for the project. Welspun Energy expects to soon be signing the agreement with Punjab State Power Corporation Ltd. (PSPCL).
Welspun Energy is committed to securing the energy future of the country and is a leading independent developer of renewable energy projects with a vision of commissioning 1.75 GW of solar & wind projects. Welspun Energy’s project order book has been seeing a steady growth. The clean energy generator has time & again demonstrated its ability to design, engineer and build renewable projects with high performance outputs and low cost – delivery period.
