GE invests in India’s largest solar power plant

GE Energy Financial Services is making its first investment in a solar power project in India, providing $24 million for a 151MW solar photovoltaic power project developed by Welspun Renewables Energy Pvt Ltd (WREPL)
GE invests in India’s largest solar power plant

WREPL is one of India's leading clean energy generating companies. The company’s Neemuch solar farm, one of the world's largest solar plants, first started to generate energy in August 2013, almost eight months ahead of schedule. The plant is located on an 800-acre site in Neemuch, on a 500-meter-high barren land ridge in the Indian state of Madhya Pradesh. It provides enough power to supply 624,000 homes displacing an estimated 216,372 tons of carbon emissions annually and has reached a capacity utilization factor of 26 percent, thereby placing it among India’s top generating projects.

Power from the project is sold to the Madhya Pradesh state utility, helping the country meet its target of 20 percent energy generation from renewable sources by 2020.

“We have been working to empower the country through our efficient solar energy projects, which will help meet the country's energy requirements in a sustainable manner” said Mr. Vineet Mittal, Vice Chairman, Welspun Renewables Energy Pvt. Ltd. “The combination of our renewable project development expertise and GE's financial strength and risk management will help achieve the ambitious goals set by the government to expand the use of renewable energy in India.”

Raghuveer Kurada, business leader for India and South East Asia at GE Energy Financial Services, added that with its geography, strong economic growth and commitment from the highest levels of government India has gained incredible potential for the development of solar power. The Neemuch project has enabled GE to exceed $10 billion in cumulative renewable energy investment commitments worldwide including $1.8 billion in solar power commitments in seven countries around the globe.

For additional information:

Welspun Renewables Energy Pvt Ltd

GE India

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Great to have such companies which are investing in Indian solar energy sector. Being one of the emerging solar power developers in India it is surprising that company like Raysexperts has also attracted few global leaders in past few years. Such kind of projects will not only help in development of solar power but also in country's Development.
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