This important milestone has been achieved in a mere 12 weeks. Its also a first-of-its-kind project in Andhra Pradesh under the pioneering Open Access programme.
By month-end a further 10MW will be connected to the grid, giving the plant power generating capacity of 25 million units per annum. This is equivalent to an annual saving of 23,000 tonnes of carbon dioxide. The remaining 5MW will brought on line in the coming months The plant has been developed as part of a long-term Power Purchase Agreement with various Industries under the Open Access programme.
This enables solar power generators and their investors to sell electricity directly to the grid or to third parties such as manufacturers. They also benefit from accelerated depreciation and tradable Renewable Energy Certificates (RECs). The Open Access programme offers exciting opportunities for small investors to profit from the growing solar sector.
The minimum required investment to participate in such projects begins at less than Rs 2 Crores. and with an order pipeline of 50MW in Andhra Pradesh alone, Emmvee is providing even more opportunities for investors to partner in delivering sustainable solar energy at a healthy rate of return.
Bengaluru-based Emmvee has a global reputation and expertise in solar power plants, having commissioned a number of major projects in Europe. In 2012, Emmvee developed a 11.4 MW Solar PV Power park in Bronkow, Germany. Expressing his thoughts on this latest achievement, Founder and Managing Director of Emmvee group, Mr. D.V. Manjunatha says It is a milestone for Emmvee to commission a 5 MW Solar PV Power plant in India and it gives us great pride.
Being a long-term player in the solar industry this project has shown our technical expertise and commitment to turnkey projects. With this new business platform we are confident of significant further investments from investors and look forward to developing more solar parks with both existing and new partners. * (assuming 2lb of CO2 per kwh generated by coal, US DoE).
