Welspun Energy Solar Rajasthan Private Limited_20MW Windfarm

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In July 2013, Welspun Energy Solar Rajasthan Private Limited (WESRPL, a subsidiary of Welspun Group), was awarded the license for setting up a 20MW wind power project in Dangri at Jaisalmer district of Rajasthan. The project used 10 wind turbines of 2MW each for generating an average annual net production of 43.1 GWh, with a capacity utilization factor (CUF) of 24.2%. Electricity generated from the project would be evacuated for consumption in the Northern Regional grid of India. WSMPPL would be responsible for connecting their power evacuation transmission line with the nearest substation of at the designated voltage level, for evacuating power generated at the solar facility. The Rajasthan Government had designated Rajasthan Renewable Energy Corporation Limited (RRECL) as the nodal agency for procurement of renewable power. Details of bidding were not known at the time of collection of this information. The RERC (Rajasthan state regulator) determined tariff would be applicable for the project. WESRPL entered into a 25-year Power Purchase Agreement (starting from the date of commissioning) with RRECL for the project. Transmission and/or wheeling charges would be paid by WSMPPL. Financial closure took place sometime in 2012.The total project cost (20MW) was estimated at US$ 22mn (INR 1174mn @53.4 INR/USD).The debt equity ratio for the project was 75/25. Financing comprised of a term loan of US$ 16.5mn (INR 880mn) and sponsor equity of US$ 5.5mn (INR 294mn). Other details of financing were not available at the time of collection of this information. Construction for the project was expected to start started in June 2013 and commercial operation was achieved in September 2013.