solar, Wind

Welspun Energy to sign MoUs with GEDA

According to reports, Welspun Energy Ltd today informed that the company would sign memorandums of understanding (MoUs) with Gujarat Energy Development Authority (GEDA) for 200 megawatts of renewable energy certificates (RECs). The MoUs are valued at around Rs 1200 crore.

“We will sign MoUs with GEDA for the 200 Mw RECs including 100 Mw in solar and 100 Mw in wind power generation amounting to around Rs 1200 crore,” Vineet Mittal, co-founder and managing director, Welspun Energy Ltd.

Renewable energy companies are given RECs against the quantum of power they supply into the grid. RECs are traded on the power exchanges. By trading RECs, project developers can partly recover their cost.
The company currently has around 50 Mw of operational solar power capacities in Gujarat, while 10 Mw is located in Rajasthan.

Mittal also informed that the company would be the first to implement a 50 Mw solar power project under Jawaharlal Nehru National Solar Mission (JNNSM). The project is located at Rajasthan and is likely to be commissioned in a month’s time.



One thought on “Welspun Energy to sign MoUs with GEDA

  1. why this special MOUs or such preferential treatment or special access to power corridor? why not make it as a simple policy for all with a PQ….. fix the tariff without REC and with REC and let the developers with all necessary credentials apply and the approval has to be automatic and can be seen on transparently on the web site…. thus, the low cost bidding can be assured and the overheads (costs associated to take care of such special approvals, preferential treatments etc) can be brought down….. let this be an open policy in all state government and let solar revolution take place with all the technologies involved….

    Posted by praveen Kulkarni | January 10, 2013, 10:57 am

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