Welspun Energy has signed a memorandum of understand with the government of India’s Punjab state to develop a 150MW solar project.
With an investment of INR1,300 crore (US$209 million), Welspun is planning to develop the project over three years, with commercial operation slated for 2017.
The 150MW project could provide energy for nearly a million families once operational.
Vineet Mittal, managing director of Welspun Energy said: “We look forward to working in close collaboration with the local authorities to develop efficient and world class solar capacities for the state.”
Welspun is also developing a 35MW solar project for the state of Punjab. The northwest state, according to a report by the Central Electricity Authority (CEA), is predicted to suffer a power shortage of 19.7% for this year.
The developments means Punjab could rival leading solar states in India Gujarat and Rajasthan; Punjab has roughly 9MW installed solar capacity currently.
The Punjab government is backing solar energy with 250MW of solar projects awarded to 26 private power producers to begin to develop solar projects in 2013.
Welspun recently completed the 130MW Neemuch project in Madhya Pradesh and has a portfolio of solar projects of up to 750MW by the end of 2016. The company has already signed a memorandom of understanding with the state governments of Madhya Pradesh, Rajasthan, Andhra Pradesh, Chhatisgarh, Karnataka and Gujarat to develop these projects.