Mumbai, July 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 WELSPUN ENERGY LIMITED 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.
About Welspun Energy Ltd.: (www.welspunenergy.com)
Welspun Energy Ltd. (WEL) is a leading independent developer of renewable energy projects with a vision of commissioning 1.75 GW of solar & wind projects. 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. Part of the US$ 3.5 billion Welspun group, WEL draws on the know-how of its specialized team of scientists and engineers to design projects by employing cutting edge technologies. It also holds the distinction of winning India’s largest solar project of 151 MW. Through its strong commitment to triple bottom line, WEL is working for underserved communities in area of education, empowerment & healthcare. It is presently mitigating over 224694 tones of CO2 emissions annually.
The information in this release has been included in good faith and is for general purposes only. It should not be relied upon for any specific purpose and no representation or warranty is given as regards to its accuracy or completeness. No information in this press release shall constitute an invitation to invest in Welspun Energy Ltd. or any of its affiliates. Neither Welspun Energy Ltd, nor their or their affiliates’ officers, employees or agents shall be liable for any loss, damage or expense arising out of any action taken on the basis of this press release, including, without limitation, any loss of profit, indirect, incidental or consequential loss.