Kolkata: Tata Power Company, the country’s biggest private power utility, is building a wind energy park of 85 mw in Maharashtra at an estimated cost of Rs400 crore.
“The green energy project is in an advanced stage and would be completed by March next year,” Debashish Majumdar, managing director of IREDA, which is part-funding the project, said here today.
“It is one of the large renewable energy project financed by the consortium led by IREDA. We have financed Rs95 crore and Asian Development Bank is providing debt of close to Rs200 crore,” he said on the sidelines of the inauguration of 3 mw mini hydel power plant of Nippon Power Ltd.
Majumdar said the green power projects are being undertaken by large power companies following a government stipulation to purchase a minimum quantity of the total power distribution by the entity.
Indian Renewable Energy Development Agency Ltd (IREDA), the central government development agency, is also trying to promote all sorts of renewable energy projects.
“So far, we have financed 1,800 projects with total exposure of Rs8,000 crore. Last year, our disbursement was more than 50% higher than the previous fiscal to Rs600 crore.”
Secretary to the ministry of new and renewable energy V Subramanian said in the current fiscal the target is to generate 35 billion units of power from renewable sources.
In 2006-07, the number was 26 billion units against 19 billion units in 2005-06.