India's largest solar power project to come up in MP

- Advertisement -

Welspun Group, the country’s largest solar power developer, has won a 125 MW solar photovoltaic project in Madhya Pradesh, says a PTI report.

“We bid Rs 8.05 per unit to bag the 125 megawatts (MW) out of 200 MW that was auctioned by the Madhya Pradesh government,”Vineet Mittal, managing director, Welspun Energy Ltd said.

After the formal award of the project, Welspun Solar Madhya Pradesh Pvt Ltd will put up one solar photovoltaic project of 100 MW and another of 25 MW capacity.

- Advertisement -

Mittal said the project will cost about USD 225 million and will be set up on barren tract of land in Mandsaur and Neemuch district of Madhya Pradesh in 18 months.

The project would be funded in 75:25 debt-equity ratio, he said adding typically, a solar power project costs Rs 9-10 crore per MW.

“Solar energy will become a game changer and I expect it will reach grid parity by 2015,” Mittal said.

Grid parity means solar power tariff equalling that of thermal power. Madhya Pradesh conducted the auction through ‘reverse bidding’ process under which it would award projects to those who offer to sell power at the best (least) rates.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Fujitsu Joins SettleMint to Utilize Blockchain Tech

0
The global strategic agreement aims to accelerate enterprise blockchain technology and promote its use cases The Japanese ICT company Fujitsu and blockchain platform SettleMint recently...

EVs Set to Drive Telematics Demand: Report

0
Telematics shipments in India to reach 50 mn units in 2030 The report expects that the rising Electric Vehicle (EV) demand, enhanced 4G...

Analog Devices: element14’s New Distribution Partner

0
The official statement said customers can now consolidate their design requirements from a single source with a range of new technologies, products and services Strengthening...

Exclusive

Fujitsu Joins SettleMint to Utilize Blockchain Tech

0
The global strategic agreement aims to accelerate enterprise blockchain technology and promote its use cases The Japanese ICT company Fujitsu and blockchain platform SettleMint recently...

EVs Set to Drive Telematics Demand: Report

0
Telematics shipments in India to reach 50 mn units in 2030 The report expects that the rising Electric Vehicle (EV) demand, enhanced 4G...

Analog Devices: element14’s New Distribution Partner

0
The official statement said customers can now consolidate their design requirements from a single source with a range of new technologies, products and services Strengthening...

Important Sectors

EVs Set to Drive Telematics Demand: Report

0
Telematics shipments in India to reach 50 mn units in 2030 The report expects that the rising Electric Vehicle (EV) demand, enhanced 4G...

Printed Electronics for Smart Building Solutions

0
The two companies will collaborate to scale novel water detection tape solutions based on printed electronics Sensor-maker LAIIER and Germany-based chemical and consumer goods company...

India Assumes Chair of Global Partnership on AI

0
MoS Rajeev Chandrasekhar represented India at the Global Partnership on Artificial Intelligence (GPAI) Summit He believes National Data Governance Framework Policy with Indian...

ABB E-mobility Raises $200 Mn in Pre-IPO Pvt Placement

0
The company hopes to continue on its growth trajectory driven by both organic and M&A investments Zurich-based ABB E-mobility, a leading electric vehicle (EV) charging...

PMV’s EaS-E Electric Car Launched In India

0
With a top speed of 70 kmph, it claims to clock from zero to 40 kmph within five seconds. The nano-sized EV is...

Manufacturing

New Product Distribution Center by TI in Germany

0
The centre in Frankfurt enables same-day delivery to central Germany next-day delivery capabilities to most European-based customers.  Texas Instruments, a global semiconductor company whose presence...

Redwood to Supply High-Nickel Cathode to Panasonic

0
Despite the increasing demand, there is no cathode production at scale in North America today: Battery material maker Redwood As per the latest reports, Panasonic...
Infineon, CoolSiC

Infineon Planning New Factory in Dresden

0
The semiconductor major has enhanced its long-term financial targets after witnessing a remarkable FY22 Germany-based Infineon Technologies recently released its results for the fourth quarter...

Uno Minda To Invest Rs 400 Cr In New Light Plant

0
The plant is intended to be commissioned by Q4 FY24 The group registered its highest-ever quarterly performance recently As per the latest reports, the...

New Demonstration Facility by SASinno in Washington

0
Ant-i1 offline selective soldering machine and SELMATE-4 N2 generator are up for demonstration. SASinno that stands for “Smart and Steady Innovation”, has announced a new...