MUMBAI, INDIA: Mahindra Solar One, a leading solar power developer, announced the successful commissioning of its first 5 MW solar plant. This plant is part of the Jawaharlal Nehru National Solar Mission (JNNSM) policy and is situated near Jodhpur in the state of Rajasthan.
It holds the distinction of generating the highest output per MW of any solar plant in India with cutting-edge tracker technology that maximizes energy from the sun. The project was also the first to achieve non-recourse financing, demonstrating the confidence of the banking sector in the solar industry.
The Engineering, Procurement and Construction arm of Mahindra Solar - Mahindra EPC (MEPC) has commissioned this 5 MW project in record time of 100 days utilizing its proven expertise in design, engineering & construction. These quality techniques are being deployed in other solar projects including that of 3rd party developers.
Presiding over the launch ceremony in Mumbai, Dr. Farooq Abdullah, Hon'ble Union Cabinet Minister for New and Renewable Energy, said: "The New & Renewable Energy Ministry recognizes the important role Solar Energy plays for our country's energy security. The JNNSM policy is crafted to create a robust and scalable solar industry and I am delighted to be launching one of the first solar plants commissioned under this scheme by a respected corporate like the Mahindra Group."
Anand Mahindra, vice chairman and MD, Mahindra & Mahindra, said "We are proud to be amongst the first in India to deploy solar technology under the JNNSM scheme successfully and in record time. We aim to be one of the top three companies in this industry. The Mahindra Group has been at the forefront of businesses that are in step with the nation's needs and Mahindra Solar One will provide a fillip to our nation's solar competencies. We are committed to be involved in enterprises that provide sustainable solutions for a better life."
The plant is expected to provide solar electricity equivalent to around 60,000 rural homes and avoid emissions of approx. 8,000 tons of carbon dioxide per year. "This plant has created over 200 new jobs in the region giving local employment and helping social inclusiveness," said Vish Palekar, business head, Cleantech Ventures, Mahindra Partners.
Mahindra Solar plans to play a larger role in solar power generation both as an EPC contractor in On-Grid and Off-Grid and as a developer setting up greater than 100 MW in the next two to three years. Along with partner Kiran Energy, it has already won 50 MW of solar projects in JNNSM Phase 1B.
"India has abundant solar energy and it is imperative to use this renewable source of energy to meet our nation's energy needs", said Zhooben Bhiwandiwala, executive VP and managing partner, Mahindra Partners Division.
"MNRE has created strong policies and mechanisms for solar development in India under JNNSM, which is driving the momentum for building solar power projects in India. These initial projects would be very critical for laying a strong foundation," adds Parag Shah, managing partner, Mahindra Partners Division. "The company is committed to enhancing their presence in the sphere of Clean Technologies and will focus on creating solutions around various green initiatives that reduce the carbon footprint."