The Indian state of Madhya Pradesh is set to be home to the largest solar power plant in the country.
India’s power company Welspun Energy announced that it has secured financing worth Rs. 885 crores (£108m) for the 130MW solar project, which its subsidiary successfully bid for last year. It beat 12 other bidders by offering the second lowest tariff of Rs. 8.05 per unit.
The project is expected to help meet the state’s annual power deficit of 17.9%, which is enough electricity to power 660,000 homes and cut more than 229,000 tonnes of carbon emissions every year.
Mr. Vineet Mittal, Co-founder & Managing Director Welspun Energy Ltd. said: “Through the continued support of our financial partners, we are confident that the 130 MW project will be commissioned as per committed. This project will help India to meet its clean and green power requirements substantially.”
Construction is already in progress and is expected to be completed by May next year. Welspun Energy has more than 300MW of clean energy projects, of which 111MW are operating and the rest are under construction. The firm aims to commission 1.75 GW of solar and wind projects in the next five years.