Ujaas Energy targets 100 MW solar power capacity by March 2014

Ujaas Energy Ltd on Friday said it is aiming to establish 100 megawatt capacity of solar power production by March 2014.

The Indore-based listed entity, which has already set up nearly 27 MW of capacity, would add 30 MW more, developed as two facilities of 15 MW each for investors in the company’s solar parks in Madhya Pradesh by the end of September, Vikalp Mundra, Joint Managing Director, said here.

Also, by next month, the company will add its own 12 MW of solar power capacity. Thus, by September, Ujaas Energy will have a total portfolio of 70 MW. The company’s own 2 MW plant was set up last year.

Currently, Rs 8.50 crore is required to be invested for generation of one MW of solar power, which includes cost of land, transformers and transmission lines. For each kilowatt, 300 sq ft of land and Rs 1 lakh is required.

Ujaas Energy (formerly M&B Switchgears) is the first company to install a solar power plant under the Renewable Energy Certificate (REC) mechanism in March 2012. It is now venturing into two new segments, Ujaas Mysite and Ujaas Home, to provide solar energy solutions for commercial and domestic requirements.

As a one-stop solutions provider, the company will provide services such as land identification, registration, EPC, O&M for 20 years, power sale, identifying the third-party buyer of power, REC (equivalent to carbon credits) trading, etc.

In 2012-13, Ujaas Energy’s net profit rose 2,836 per cent to Rs 27 crore as compared to the year before (Rs 0.92 crore) and sales rose 614 per cent to Rs 242.57 crore (Rs 33.94 crore).

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