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Waaneep Solar to set up 50 MWp solar power plant

Monday, 21 Jul 2014
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Waaneep Solar, an SPV of Waaree Energies and North Eastern Electric Power Corporation (NEEPCO), plans to set up a 50 MWp solar power plant at Ichhawar, in Seoni district of Madhya Pradesh.

As divulged to ProjectsToday, the company has acquired 250 acre of land and appointed Waaree Energies as the EPC contractor. The project entails an investment of Rs 450 crore. Around 30 per cent of the project cost will be funded from internal accruals and the remaining through bank loan. Waaneep Solar is in the process of achieving financial closure for the solar power project.

Work on the project is still in the planning stage and is expected to commence by January 2015 with completion scheduled for September 2015. The company is also awaiting the necessary clearances from the Madhya Pradesh government.

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