Welspun Energy Ltd (WEL), part of the diversified $3-billion Welspun Group, has inked an agreement with New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP)), with a proposal to install 500 MW of wind energy capacity in the State.
Apart from Welspun, Suzlon Energy and Mytrah Energy have entered into agreements independently expressing their interest for setting up of wind power projects in the State.
WEL has a portfolio of 500 MW of renewable energy under different stages of development. The company was awarded a 50-MW solar plant stated to be the single largest location project under the Jawaharlal Nehru National Solar Mission (JNNSM).
Investment
According to the memorandum of understanding signed with NREDCAP, the nodal agency for renewable energy, it is proposed to complete the projects by the end of 2014, entailing an investment of Rs 3,000 crore. The State Government will be facilitate necessary permissions, approvals and clearances for the development of wind farms.
Mr Vineet Mittal, Managing Director and Co-Founder of Welspun Energy, in a statement said: “Welspun Energy is setting up grid-connected solar and wind power projects across India. Short gestation periods for installing wind turbines, and the increasing reliability and performance has made wind power a favoured choice in India.”
NREDCAP has taken up several wind mapping and wind monitoring projects with the support of Ministry of New and Renewable Energy and C-WET, Chennai, to identify windy sites. The State is looking to boost capacity to bridge the demand supply mismatch.
According to the Ministry's report, the installed capacity of grid interactive wind energy in India by September 2011 was 14,989 MW. The gross potential of wind power is estimated to be 48,561 MW.