Published on April 16th, 2015 | by Smiti1
Germany’s iPLON Enters India’s Solar Power Market With Supply Contract From Welspun
April 16th, 2015 by Smiti
Welspun Renewables Energy Limited, a subsidiary of one of the leading Indian solar power developer has signed a deal with German-based iPLON for supply of automation systems for the former’s upcoming portfolio of 550 MW solar PV projects.
The agreement was announced during Hannover Messe, one of the largest engineering exhibitions held annually in Germany. Under the terms of the agreement, iPLON will supply automation systems, plant analysis tools, telemetry systems, and central monitoring systems required by Welspun to manage its large portfolio of projects all over the country. This deal is set to enhance the confidence of the big investors — especially DEG, subsidiary of Germany-based KfW, the Asian Development Bank, and GE Energy Financial Services which infused over $100 million in Welspun Renewables Energy last year. Several other big lenders infused millions of dollars into the company to support project development.
The company has successfully commissioned 328 MW of solar PV projects in various states of India on a turn-key basis. Several other solar and wind projects are under construction across 5 states. It also operates 151 MW of solar PV project in Madhya Pradesh, the largest solar power project in India so far.
Through this deal iPLON has made its entry into India’s rapidly growing solar power industry with its operations spreading across various states including Tamil Nadu, Rajasthan, Punjab, Madhya Pradesh, and Gujarat.
The Welpsun Energy equipment supply deal follows a succession of recent power purchase agreements that the company has signed with several state governments. The company has set an ambitious target of setting up of 11 GW of solar and wind energy capacity over the next 5-7 years with 1 GW capacity expected to be commissioned within this fiscal year.