Welspun plans 100MW PV plant in Indian state of Chhattisgarh
Developer Welspun Renewable Energy plans to build a 100MW solar power plant in the Indian state of Chhattisgarh after signing a memorandum of understanding (MoU) with the government there.
Welspun – one of India’s most ambitious developers of solar and wind plants – expects the project will cost $183m and begin operations in 2015.
The company, part of Indian conglomerate Welspun Group, says the Chhattisgarh state government will help facilitate the necessary approvals and land acquisitions needed for the development.
Located in central India, Chhattisgarh is one of the country’s major mining centres.
Welspun in May won the right to develop130MW of solar in the state of Madhya Pradesh, and is aiming to commission 1.7GW of wind and PV power across India over the next three years.
Vineet Mittal, managing director of parent company Welspun Energy, admits that some “edginess” has been created among potential investors in Indian power projects, attributing this to factors such as an uncertain policy framework.
However, Mittal says Welspun “is confident that it will be able to source appropriate funding for this project in time”, because of the company’s track record of commissioning solar plants on schedule.