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Cover Story | August 2014

Power 20:20 | Welspun Energy

Highest growth generation company in the last year (private company - solar power) : Welspun Energy

Welspun Energy Ltd. (WEL) is part of the $3.5 billion Welspun Group. WEL has identified a portfolio of 1 GW wind and 750 MW solar capacities and is working to commission these. The company has successfully commissioned 297 MW (DC) capacity of solar PV projects on a turnkey basis well in advance of the stipulated timelines. Currently, another 140 MW of solar PV projects are collectively under construction in five States in India. By integrating systems & processes and engineering excellence, it has achieved cost leadership in the renewable energy space. The organisation holds the distinction of winning India´s largest solar project of 130 MW by reverse bidding. WREPL´s business operations are ISO 9001:2008 certified - a first in the clean energy space. It has been awarded the Golden Peacock Innovative Service Award for its innovations, while the Global EPC Award recognises WREPL´s contribution in solar project development.

Key Success Factors

  • Cost leadership: The company has constantly endeavoured to ensure it has cost leadership within the solar energy business. Its expertise is in building robust in-house design, engineering and procurement capabilities enabling the company to be one of the lowest cost generators. With in-house solar EPC capability, WREL has cost control advantages which is of great advantage in the solar business.
  • Strong execution: With an experienced management team, Welspun Energy has a track record in conceptualisation, execution and commissioning projects way ahead of scheduled time. Welspun Energy has the maximum capacity addition done in the last fiscal, much better than the rest of the competition. Recently the company has commissioned one of Karanataka state´s largest 19 MW (DC) solar capacity. Based in Chitradurga district the project was awarded as twin solar projects of 8 MW (DC) and 11 MW (DC). The 8 MW (DC) capacity was commissioned last year - four months in advance, while the balance 11 MW (DC) capacity has now been developed in less than three months and consequently 10 months ahead of schedule. In addition, the company has commissioned the 151 MW (DC) plant in Neemuch, which is one of the largest solar plants in the world spread across 800 acre of barren terrain.
  • Diverse mix: The high quality solar and wind development projects are a platform to establish sustained process in place.
  • Stable cash flows: Welspun´s leadership in the export business as well as the strong cash flows from the $3.5 billion parent company has ensured that the Energy Division gets funding even with low generation capacities. The Asian Development Bank (ADB) has invested part of a $50 million commitment of equity capital into the company. This deal will help demonstrate that profitable investments are achievable in the renewable energy space and will help catalyse more private investments. Close on the heels of the recent $24 million General Electric investment in its Neemuch project; this is yet another positive milestone for the organisation and a boost to the sector at large.
  • Cumulatively generating 597 million units of clean energy.
  • Mitigating 533,494 tones of CO2 emissions.
  • Plans to set up a total renewable capacity of 1,750 MW in solar and wind.
  • Spread across eight States, it has 328 MW (DC) operational capacity of renewable
  • energy generation till date.
Parameter Details
Company Welspun
Ownership Privately Owned
Industry Energy
Founded 2010
Headquarters New Delhi, India
Products Solar PV, Solar Power
Plants, Wind Farms

Major Projects Commissioned/Awarded in the past 12 months
Project Capacity Location Year
151 MW MP FY 2013-14
50 MW Maharashtra FY 2013-14
19 MW Karnataka FY 2013-14
35 MW Rajasthan FY 2013-14
20 MW Maharashtra FY 2013-14
32 MW Punjab FY 2013-14
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