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20 Aug 2009

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, Delhi based RS India Wind Energy has acquired 30 acre on lease in Raisena village in Gurgaon district for setting up a 3 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 Rs 57 crore. 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 three firms had submitted their project reports, these 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.

The report also suggests that one factor for the companies to re consider the feasibility of the project is the module cost, which was around Rs 170 to Rs 200 per watt earlier, and has now reduced to Rs 140 to Rs 150 per watt making the projects more feasible and bankable.

Now, I am not sure how the price got reduced. By whom? The price of solar panels has been a hot debate, and it is not entirely clear where various folks are getting their data from. Right now, the only authentic databases that we can rely on suggest that it will cost at least $ 5 million per MW capex for solar PV, which makes it about 240-250 Rs per Watt.

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