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Maharashtra State Power Generation Company, the power generation company controlled by the State Government, has decided to partner Welspun Energy Ltd in a 50 MW solar power project near Baramati, Pune district.
Welspun will develop the project on a revenue sharing basis for 25 years with Maharashtra State Power Generation Company (Mahagenco). It will get 38.75 per cent revenue share at an annual capacity utilisation factor of 19 per cent.
Mahagenco will invest Rs 150 crore for the plant. Financial assistance for the project will be provided through a soft loan from KFW Bank of Germany. The balance finance will be shared by Welspun Energy Ltd.
A press statement issued by Mahagenco said Welspun would be fully responsible for part-finance, design, and commissioning of this grid interactive solar power. In the first phase, a 36 MW solar plant would be installed on 74 hectares of Government land, which has already been acquired by Mahagenco.
The remaining capacity will be installed at the same terms and conditions after acquiring 30 hectares of land required for the project.
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