LEPL’s Power Division to focus on Solar Power
Vijayawada: The Vijayawada based LEPL group which started out as a Real estate company and then transitioned into an infrastructure company has some serious plans lined up for its renewable power business.
LEPL Renergy P Ltd an SPV under the LEPL projects limited claims to have already spent about Rs. 250 crores on renewable energy while has another Rs. 800 crores in the pipeline.
Speaking to Vizag Industrial Scan, CEO, Power division of LEPL Projects, Mr SDV Krishnakumar, informs that the group has already commissioned a 16.8MW wind project in Tamil Nadu and a 10MW solar project in Rajasthan. The Rajasthan solar project was commissioned in 2013 and is under a PPA with NTPC for 25 years.
‘We will be getting a per unit price of Rs.8.91 from NTPC for the next 25 years. In all our projects we develop, generate and distribute’ says Mr Kumar.
A mega solar project that the group is currently working on is the 100MW solar project in the district of Anantpur, Andhra Pradesh. Spread across 500 acres of land allocated by the AP government the project is slated to be commissioned in mid-2016.
‘The total planned investment for this project is Rs.800 crores out of which Rs. 50 crores has already been spent’ says the CEO. The company is looking at another 500MW of primarily solar power over the next 3-4 years.
Focus across the country is on solar similarly LEPL too has a clear focus on renewable energy i.e. Solar, wind and small hydro(less than 25 MW) says Mr Kumar.
Talking on the power scenario in the state he says that the AP power sector is in a good situation wherein it is not in a deficit. He further states that the state government is looking at 10GW of solar power in the next 4 years.