Project Today reported that Haryana Renewable Energy Development Agency signed a MoU with four companies in 2008 to set up solar power projects in Haryana, there have been little progress in these projects.

Of the four companies that signed a MoU with HAREDA, only Delhi based RS India Wind Energy has acquired 30 acre on lease in Raisena village in Gurgaon district for setting up three MW solar photovoltaic power project. A total of 15,008 solar photovoltaic modules of 200 watt each are expected to be used in the project.

The proposed project is estimated to cost INR 57 crore, of which 30% is likely to be equity and the rest will be debt. The annual generation capacity of this project is expected to be around 5.9 million units of which 4.910 million units are likely to be available for sale.

The other three firms are Astonfield Renewable Resources from Kolkata, Epuron Renewable Energy and Azure Power India from New Delhi. While Astonfield Renewable Resources proposes to set up a three MW plant; Epuron Renewable Energy and Azure Power India are planning to set up a two MW plant each.

Though these firms had submitted DPRs, their projects were found to be unviable. Now, these firms are re working the details to make the projects feasible and are expected to submit the new reports soon. Another factor for the companies to re consider the feasibility of the project is the module cost, which was around INR 170 to INR 200 per watt earlier. This has now reduced to INR 140 to INR 150 per watt which is likely to help in making the projects more feasible and bankable.

(Sourced from Project Today)