Press release from Business Wire India
Source: Moser Baer India Ltd.
Wednesday, October 12, 2011 01:30 PM IST (08:00 AM GMT)
Editors: General: Consumer interest, Economy, Environment, People; Business: Business services, Energy companies; Technology
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Chief Minister Narendra Modi to Inaugurate Asia's largest Solar Farm being set up by Moser Baer Clean Energy at District Banaskantha on 14 October 2011
Ahmedabad, Gujarat, India, Wednesday, October 12, 2011 -- (Business Wire India) -- -- The 30-MW, Rs. 465-crore solar farm in Gujarat will be the first major project to be commissioned under the state's Solar Mission
-- Spread over 305 acre of land, the farm is expected to generate approximately 52 million units of electricity per annum; 1,50,000 units per day
-- The number of households benefited through the plant will be around 50,000
-- Will facilitate saving of carbon emissions to the extent of 50,000 tons a year
-- MBCEL has set up a target of 1500 MW installed capacity in solar energy space in India by 2015
-- The MNC has operational Solar PV projects in countries like India, Germany, UK and Italy
Moser Baer Clean Energy Limited (MBCEL), India's largest solar developer has set up Asia's largest solar farm in District Banaskantha, Gujarat and will be inaugurated by Hon'ble CM Shri Narendra Modi on 14th Oct 2011.The 30 MW solar farm has been set up using 2,36,000 Thin Film modules with an approximate investment of Rs. 465 crore. The power will be evacuated through 2 separate 66 KV lines to Sub-Stations at Anganwada and Dunawada. This project awarded under phase 1 of Gujarat Solar Power policy 2009 will be the first major project commissioned under the Gujarat Solar Mission.
Praising the support of the Gujarat government, Ratul Puri, Chairman, Moser Baer Projects said: "The state of Gujarat is seen as one of the best solar power generation destinations due to its progressive solar policies, stable political and economic conditions and more importantly abundant availability of the day light. We could not have completed this project in a record time without the support and guidance of the state government. According to reports the state of Gujarat is considered to have the 2nd highest renewable energy generation potential state in the country." He further added, "As solar power is clean, abundantly available and reduces carbon emission, the Company is incessantly working towards commissioning of 300 MWs of solar projects in the next 12 months in India, Germany, Italy and UK. We shall have 100 MW operational capacity by the end of October, 2011 and plan to install more than 5 GWs by 2020."
Akhil Gupta, Chairman of Blackstone India and an investor in MBPPL, said "We are excited about the potential of the energy sector as demonstrated by our largest investment in India -- a $300 million commitment to Moser Baer Projects. We are happy that in a small way, the solar farms in Gujarat will help bridge India's energy deficit through generation of electricity from renewable sources. The management team has done an exceptional job in executing this challenging project in a short period of time. The Blackstone Group and Moser Baer are committed to building India's infrastructure through sustainable means in partnership with local communities. We are proud that the company has been able to generate large employment opportunities at local level."
Giving more details about the solar farm, Rajya W. Ghei, Country Head, MBCEL said: "We have used about 2,36,000 Thin Film modules including that of Moser Baer Solar is the only solar company in the world to be awarded a 5-star rating for quality by TÜV Rheinland for two years in a row. This solar farm will generate about 52 million units which should provide electricity for 50000 homes everyday. Additionally it will save about 50000 tonnes of carbon emission annually making this farm a beacon for other developers to follow." He concluded by saying: "We selected Thin Film solar PV modules as they are best suited climatic conditions in Gujarat and are known to generate more electricity than the assured levels."
Mr. K.N. Subramaniam, Chief Executive Officer, Moser Baer Solar Systems said: "This solar farm is very special to all of us as this is the first large scale facility to be set up in India. The farm has been designed to encompass ponds, village roads etc in it and yet generate electricity on such a large scale." He emphasized that: "Today our country needs energy not only to reduce the dependence on the fossil fuel based power but also to provide access to basic electricity in far fetched rural areas. By using Sun as the renewable source of power, we will be able to address both these requirements."
About Moser Baer Clean Energy Limited (MBCEL)
Moser Baer Clean Energy Limited (MBCEL) was established in 2008 with a strategy to undertake development of renewable power projects worldwide. MBCEL is a project developer, owner and operator of solar power projects globally. It is currently the largest solar power development company in India and amongst the top 3 largest solar power developing companies globally.
Its objective is to utilize our technology heritage and tap global expertise to establish best in class solar power plant to deliver affordable solar power.
About Moser Baer Projects Private Limited (MBPPL)
Moser Baer Projects is engaged in the development of power assets using both conventional and non-conventional sources of energy. It is one of the fastest growing integrated power companies in India, operating across a synergetic span of Thermal, Hydel and Solar verticals offering end-to-end services (Power Generation, Power Trading, and Engineering Procurement Commissioning etc) in its areas of operations. The company plans to commission 5000 MW of thermal, 500 MW of solar and 520 MW of hydro to emerge as a leading player in India's energy sector. Additionally the company has a pipeline of over 6100 MW of power projects.
About Moser Baer India Limited (MBIL)
Moser Baer India Limited has successfully developed cutting edge technologies to become one of the world's largest manufacturers of optical storage media. From a single entity, it has become a diversified conglomerate in a short span of time. The company has interest in optical storage media, solid state recording devices, consumer electronics, photovoltaics, solar energy systems and home entertainment.
The Blackstone Group
Blackstone is one of the world's leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, funds of hedge funds, credit-oriented funds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services. Further information is available at http://www.blackstone.com
To view the photograph, plesae click on the link given below:
Actual site at Banaskantha
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http://www.BusinessWireIndia.com/attachments/Pic(136).jpg
Pic(136).jpg
CONTACT DETAILS
Abhinav Kanchan, Moser Baer India Ltd., +91 9958867269, abhinav.kanchan@moserbaer.in
Balaji Krishnaswami M, Moser Baer India Ltd., +91 9971757474, balaji.krishnaswami@moserbaer.in
Sona Endow, Moser Baer India Ltd., +91 9891944882, Sona.endow@moserbaer.in
KEYWORDS
CONSUMER, ECONOMY, ENVIRONMENT, PEOPLE, BUSINESS SERVICES, ENERGY, TECHNOLOGY
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