Team News Riveting
Raipur, July 13
South Eastern Coalfields Limited (SECL), a flagship arm of state-run Coal India Limited (CIL), would be venturing into Solar Energy.
The largest coal producing company of CIL with its headquarters in Chhattisgarh’s Bilaspur had planned to set up a 40 MW Ground mounted and Grid Connected Solar Power Plant. The investment made by a key coal producing company is seen as significant development by industry observers.
SECL spokesperson said that plant would come up at identified land patches in Bhatgaon and Bishrampur operating areas of the SECL. The project will be executed through Coal Lignite Urja Vikas Pvt. Ltd. (CLUVPL), a Joint Venture (JV) company of CIL and NLC India Ltd. incorporated with equal holdings.
The company’s New Technology Department, based at Bilaspur has issued a ‘Letter of Award’ to the JV on Monday. The work award is based on Detailed Project Report (DPR) and Project Management Consultancy (PMC) offer of the JV.
The total cost of the project is pegged at Rs 148.60 crore and has been approved by the Board of the Company.
Under the scope of work, CLUVPL shall provide project reports, facilitate tendering work and also assist SECL in getting project approval, permits and related works. The work order mandates that site study, testing and commissioning should be completed within nine months.
The upcoming solar project would be one of the ambitious green initiatives taken by SECL, which plans to install solar projects having a cumulative capacity of 142 MW in the next three years.
As per the communique by SECL Corporate Office, Bilaspur the total energy bill savings from both the solar grid sites work out to Rs 40.75 crore per annum (1st Year). Project IRR (Internal Rate of Return) is 22.13 per cent for 100 per cent Debt Equity Ratio. The rate of per unit energy from the solar grid is likely to be almost half from the present tariff rate. The upcoming solar power plant will also reduce 60 Kilo-Tons Carbon emission per annum.
SECL Chairman-cum-Managing Director (CMD) A P Panda, CVO B P Sharma, Director (Technical) M K Prasad, Director (Finance and Personnel) S M Choudhary, Director Tech.(P&P) S K Pal hailed the project and termed it as a mega initiative towards sustainable development.
