JBM Solar (P) Ltd., part of the $1.35 Gurgaon-based conglomerate JBM Group, has announced commissioning of largest Solar Power plant in the state of Haryana by April 2016. Mr. S.K. Arya, Chairman, JBM Group laid the foundation stone of the solar power plant at Barwa village in Bhiwani district of Haryana on 21st January 2016.
With a total investment of Rs. 120 cr, this solar power plant is being commissioned at Barwa in an area of 90 acres. Once commissioned, the plant would have a capacity to produce 20MW electricity. This project was awarded to JBM Solar (P) Ltd. by the Haryana government in June last year with an aim to increase the share of renewable power in its total energy consumption.
The plant will be commissioned in April 2016 and will be the largest on-ground solar power plant till date in the state of Haryana. This is the second solar power plant of JBM Group. Last year, the group had commissioned a 250-KW solar plant at the rooftop of India Habitat Center in New Delhi.
Addressing the gathering after laying the foundation stone, Mr. S.K. Arya, Chairman, JBM Group said, “Renewable energy sector is a promising space to work in as you are contributing to the environment and the society while capturing the business potential on offer to maximize value for all stakeholders. Our country is taking big strides in reducing its carbon footprint and I am sure that JBM Solar would add value in this endeavor”.
JBM Group forayed into solar power generation in the year 2015 with plans to invest Rs 1600 crore through its new entity JBM Solar Pvt. Ltd. The company expects to have aninstalled capacity of 300 MW by 2018. JBM Solar is an independent power producer focusing on on-ground as well as rooftop projects.
Disclosing the plans in renewable energy sector, JBM Group’s Executive Director Mr. Nishant Arya said, “Renewable energy is getting the international thrust and India is moving fast in increasing its share of clean energy. At our group level, we project that the solar power vertical would contribute around 5-10% of the total revenue. We plan to expand the renewable energy business to other renewable areas”.
India has committed to increase its renewable energy generation capacity from 15% at present to 40% by 2030. The country targets to install a solar power generation capacity of 100 GW, 60% of which is through ground mounted projects. On its part, the Haryana Government Haryana plans 4200 MW solar power by 2022.