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Solar Power tender goes to Welspun
Posted on: 10/May/2013 4:43:08 PM
Welspun Energy, a private producer of non conventional power, has won the contract to set up a plant in Tamil Nadu. The intial project is expected to have a 60 MW output. Last December, the Tamil Nadu government had invited tenders from solar power producers. This is significant in the wake of the major power crisis that the State is currently facing. The government had released a Vision 2020 document which claimed that it had plans to increase the solar power capacity to 5000 MW by 2020.
‘We will finalise the location next month… The contract is for 25 years and the company will get 6.49 per unit as tariff in the first year. After this there will be a 5% increase in tariff each year’, said Vineet Mittal, Managing Director and Co-Founder of Welspun Energy.
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