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Renewable energy generator Welspun Energy Pvt Ltd on Sunday said it has started work for setting up a 50-MW solar project at Baramati, Maharashtra.
The company is setting up the project on a public-private partnership (PPP) model with Maharashtra State Power Generation Company, Welspun Energy said in a statement.
Ajit Pawar, Deputy Chief Minister of Maharashtra, laid the foundation stone in Baramati in Pune district on Sunday, it added. The power producer will be fully responsible for finance, design, and commissioning of this grid-interactive solar power, it said, adding and WEPL will invest 60 per cent of project cost and will be entitled to a 62 per cent share in revenue.
“This is the second project we have built in the State.
“Like our other projects across the State, we will be bringing our expertise in project development to this one as well,” Vineet Mittal, Managing Director of Welspun Energy, said.
The 50 MW capacity will be installed in two phases. In the first phase, 36 MW will be installed on 74.74 hectares of Government land.
The remaining 14 MW capacity will be installed after acquisition of the 29.97 hectares required for the project, it said.
For the next 25 years, the project will generate enough green energy to power 2,40,000 households, it said, adding that among the three bids received for the project, Welspun Energy had emerged as the highest revenue-sharing bidder.
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