Welspun Energy, part of the diversified $3-billion Welspun Group is likely to complete its 130 MW solar photovoltaic project in Madhya Pradesh this August, close to a year earlier than originally scheduled. Last year, the company had won the right to put up the plant and sell the power to Madhya Pradesh’s state-owned electricity distribution utility in a competitive bidding process, quoting a tariff of Rs 8.05 a kWhr.
The entity owns solar power producing assets worth 111 MW in Gujarat and Rajasthan. It aims to add 300 MW of capacity, which will include the 130-MW in Madhya Pradesh, but will not include the 60-MW plant to come up in Tamil Nadu, for which the company has received the letter of intent from the Tamil Nadu distribution utility.
