First Indo-French solar power investments in India by PR Fonroche and Mahindra EPC

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Bikaner,  9 January, 2013: PR Fonroche, a joint-venture between PR Clean Energy (India) and Fonroche Energie S.a.s (France), has collaborated with Mahindra EPC, a part of the USD 15.9 billion Mahindra Group, to commission two solar photo voltaic based power plants (5 MWp and 15 MWp) at Gajner Village in Bikaner, Rajasthan.

These projects were awarded under the Jawaharlal Nehru National Solar Mission’s Phase I Batch II scheme. This partnership marks the first Indo-French collaboration in the Indian Renewable Energy sector. The first of the two projects – of 5 MWp – was commissioned in December 2012.

On the occasion of the formal inauguration of the 5MW Solar PV power plant at Gajner, Bikaner today, in the presence of senior officials from Rajasthan Renewable Energy Corporation Limited (RRECL), Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL), and the local power distribution company (DISCOM), the two companies revealed that the remaining 15MWp is expected to be commissioned by January 15, 2013.

Speaking about this success story, Thierry Carcel, CEO, Fonroche, said, “Fonroche is pleased to continue its development in India through this project. It is the first major French investment in solar energy in India and is in line with our aim to develop high quality renewable generation assets in India through a range of innovative solar PV solutions such as ground-mounted farm, greenhouses, canopies and rooftops solutions.”

Commenting on the partnership, Pratap Raju, Joint Managing Director, PR Fonroche said, “We are pleased to have set up Fonroche’s first solar PV plants in India. We’re keen to employ Fonroche’s valuable expertise in building unique solar PV solutions for industrial and private consumers in India, where solar holds huge potential. Many of these solutions are answers to some of the key concerns that have been raised by observers of the industry, and we are quite excited to be pioneering these initiatives in the country. We aim to develop a minimum of 200MW projects through this partnership, and are buoyed by the success of this first project.”

Commenting about Fonroche’s investment in India, Emmanuelle Matz, Deputy Head, Proparco Infrastructure Division, said, “As one of the leading French companies in the solar sector, Fonroche is well positioned to bring its expertise to the Indian market. Proparco, French Development Agency group, is actively promoting the development of renewable energy in India through the financing of various projects both in terms of debt and equity, and is pleased to be working with Fonroche on these projects.”

Speaking on the occasion, Zhooben Bhiwandiwala, Executive Vice President, Member- Group Executive Board, Mahindra Group, said, “As part of Mahindra Group’s Rise philosophy and our commitment to meeting India’s growing energy security needs, we have forayed into the renewable and clean energy sector.”

Parag Shah, Managing Partner at Mahindra Partners and Head of Mahindra Cleantech Ventures, said “in a short period of time, Mahindra Cleantech Ventures has become India’s leading solar energy solutions provider. We offer end to end integrated solutions across the on-grid and off-grid segments.”

“Mahindra EPC has delivered high quality solar plants in record time ensuring global standards across our project execution. We are proud that at present we are India’s largest solar EPC company and shall strive to maintain our leadership position in the future.” said Basant Jain, CEO, Mahindra EPC. The 20MWp solar PV plant is equipped to supply more than 38 million units of clean and green energy. It is expected to displace nearly 30,000 MT of CO2 annually. The plant, which comprises more than 270,000 high output thin film technology Solar PV modules from First Solar, USA to generate 20MWp, is spread across an area of 180 acres.

Mahindra EPC’s turnkey scope of work included the complete Design, Engineering, Procurement and Construction of the 20MWp solar power plant, including construction of a 2.7Km, 33 kV double circuit transmission line to export the generated power to a nearby grid substation.These projects have been executed in Rajasthan with the support of RREC (Rajasthan Renewable Energy Cooperation), the renewable energy nodal agency in Rajasthan, headed by Energy Secretary, Shri Naresh Pal Gangwar. The plant has signed a PPA with NVVN (NTPC Vidyut Vyapar Nigam), a subsidiary of NTPC (National Thermal Power Corporation).

With the success of these initial investments, PR Fonroche targets the commissioning of at least 200MWp over the next 3-4 years, introducing new solar solutions for private and industrial consumers. These include specially designed solutions for airports already commissioned in Europe, along with solar PV greenhouses customised for the Indian market.Mahindra EPC is planning to execute over 300MWp of solar power projects over the next two years.

About PR Clean Energy:

PR Clean Energy is a Renewable Energy Developer focused on solar, wind and small hydro projects in India. With offices in Mumbai, Hyderabad, Delhi and Visakhapatnam, it is developing both utility-scale renewable energy projects as well as private solutions for clients, including solar PV solutions for industrial clients, solar lighting solutions, PV-powered green houses, etc. The Group brings with it multiple years of experience and key relationships in the Indian Power Sector, having been associated with large Indian IPP developers in the past.

Fonroche is specialized in the development, manufacturing, financing, construction and operation of renewable energy power generation solutions (solar, geothermal & biogas). Fonroche is the largest private solar company in France and has built a truly global solar business, developing projects in such countries as Kazakhstan, Africa, Brazil, USA and India. Fonroche is currently executing 350MW of projects worldwide, including investment of 200MW in proprietary plants. As one of the largest Solar EPC players in the country this year, Mahindra EPC Services Pvt. Ltd. is committed to providing world class EPC solutions to its customers. Mahindra EPC Services Pvt. Ltd. is a portfolio company under Mahindra Cleantech, Mahindra Partners. Mahindra EPC has established itself as a dominant player in both Grid Connected and Off-Grid EPC services, and is currently executing 59 MW of solar power plants across the country.

 

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