To set up 40 Mw thermal plant in 500 acres in Banaskantha
Electrotherm Renewables - a division of Electrotherm (India) Limited, is investing between Rs 700 crore and Rs 800 crore for setting up a 40 Mw solar thermal power plant in Banaskantha. While Electrotherm is still on the lookout for a 500 acre land, the company is expecting some assistance from Gujarat Energy Development Agency (GEDA).
"We had earlier signed an MoU for the solar thermal power plant during the previous Vibrant Gujarat Global Investors' Summit (VGGIS). We had asked the Gujarat government to allot us 50 Mw earlier for the plant but we have received approval for 40 Mw. The plant will be commissioned in 2013," said Siddharth Bhandari, managing director, Electrotherm Renewables division. Once commissioned, the plant is expected to sell power for Rs 10 per kwh initially, he added.
Talking further about the solar thermal plant, Bhandari said, "Around 10 companies are coming up with solar thermal power plant of varying capacities. The total capacity allotted by the government for solar thermal power plants is around 350 Mw, of which 40 Mw is being developed by us. Once successful, we would like to replicate such power plants across the country. For solar thermal power plants, Gujarat, along with Rajasthan and Andhra Pradesh are the most viable locations."
As of now, Electrotherm Renewables has launched its solar water heating system under the brand name 'Electra'. According to Bhandari, a 100 litres per day (LPD) Electra solar water heater can save up to 1,200 to 1,500 units of electricity consumed for water heating in a small household yearly. Moreover, it can reduce the emission of Carbon Dioxide up to one tonne annually which is really a great contribution to reduce greenhouse effect and global warming.
"We are initially making the product available in Gujarat, MP, Chattisgarh, Rajasthan, Maharastra, and Goa. We are currently in the process of appointing distributors and dealers in these states. Electra will also be available at select YOWORLDS, the electric two-wheeler showrooms for YOBykes," he said.
Equipped with a manufacturing capacity of 60,000 units per annum, Electrotherm aims to sell around 10,000 units this year and earn revenue worth Rs 10-12 crore.