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| Welspun Energy signs MoU to develop 500 MW Wind Power in Andhra Pradesh |
| Announcement / Corporate Jan 31, 2012, 17:38 IST |
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Welspun Energy Ltd. (WEL) has inked an MoU with the Government of Andhra Pradesh for installing 500 MW of wind power projects.
WEL is the latest entrant in the booming wind energy sector in India. As a leading player in solar energy with a portfolio of 500 MW under different stages of development, Welspun Energy has been aggressively moving forward in the renewable energy space. The company was recently awarded the largest solar project in India of 50 MW in a single location under the prestigious Jawaharlal Nehru National Solar Mission (JNNSM).
With this MOU, Welspun Energy has positioned itself as a prominent wind energy player in the country. As per the MoU signed with NREDCAP, the agency responsible for developing renewable energy in AP, the projects are to be completed by the end of 2014, entailing a net investment of Rs. 3000 crores. With the establishments of these projects the organisation would achieve carbon offsets to the tune of 682400 tones.
The state government will be facilitating in obtaining necessary permissions, registrations, approvals & clearances for the development of wind farms, as inscribed in the MoU signed in Hyderabad.
“The recent agreement with NREDCAP has strengthened our commitment to become India’s leading power developer in the renewable energy sector. Welspun Energy is setting up large grid-connected solar and wind power projects across India. Short gestation periods for installing wind turbines, and the increasing reliability and performance of wind turbines has made wind power a favored choice for capacity addition in India.” said Mr Vineet Mittal, Managing Director & Co-founder, Welspun Energy Limited.
NREDCAP, which was earlier known as Non Conventional Energy Development Corporation of Andhra Pradesh Ltd (NEDCAP) has taken up several wind mapping and wind monitoring projects with the support of MNRE, Govt. of India, Delhi and C-WET, Chennai to identify windy sites since its inception in 1986. According to MNRE‘s report, the cumulative installed capacity of Grid Interactive Wind Energy in India by the end of September 2011 was 14989MW. India ranked third in the world in annual capacity additions and fifth in terms of total wind energy installed capacity. The gross potential of wind power in India is 48,561 MW and a total of about 14,158.00 MW has been developed till date through various projects.
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