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NEWS Waaree Energies CFO awarded by CIMA Adding yet another significant feather in the cap, Hitesh Mehta, CFO Waaree Energies, was identified and awarded as the most influential CFO in the country, by Chartered Institute of Management Accounts (CIMA). This award is an appreciation of his outstanding performance towards the growth of Waaree Energies Ltd. Appreciating his performance, Mr. Hitesh Doshi, Chairman and Managing Director, Waaree Energies commented, “Hitesh has demonstrated performance of high caliber in managing diverse portfolio covering strategic finance, corporate structuring, operational finance, tax planning, audit, treasury and expansion at WaareeEnergies.It is with his efforts and planning that has led Waaree to maintain its financial stability in the challenging economic scenario. We are absolutely proud of his achievements and would continue supporting him inall his future endeavours.”. Expressing his gratitude, Hitesh Mehta, CFO, Waaree Energies said, “Following the company’s recent feat of the ‘National Excellence Award for Roof top solar power projects’, this is definitely another feather in the cap. We are pleased to see the burgeoning popularity of solar segment in the country and this award is indicative of the same; an appreciation of our efforts and what we stand for”. Hitesh Mehta at present spearheads all key initiatives in relation to fund raising, M&A and JV’s whilst strengthening credibility and reputation of Waaree. Additionally, marking its supremacy in the solar sector, Waaree Energies was earlier honored with the National Excellence Award for Roof top solar power projectsearly this month. The central government through Ministry of New and Renewable Energy (MNRE) honored India’s No. 1 ranked Solar PV manufacturer and leading solar solutions company, with the prestigious National Excellence Award for roof top solar power projects in the domestic solar module manufacturing category. TPREL wins 30 MW solar project in Maharashtra under National Solar Mission Tata Power has announced that the Company’s 100% subsidiary, Tata Power Renewable Energy Ltd.(TPREL) has won Solargrid connected photovoltaic projectof 30 MW in Maharashtra. The projects have been awarded in the DCR category under the Jawaharlal Nehru National Solar Mission (JNNSM) Phase-Il Batch-IlI Tranche-l under ‘State Specific Bundling Scheme’. TPREL has received the Letter Of Intent to develop the projects and will sign a 25 year Power Purchase Agreement (PPA) with NTPC Vidyut Vyapar Nigam Ltd. Commenting on winning the project, Mr. Rahul Shah, CEO & ED-Tata Power Renewable Energy Ltd, said, “This is the third LOI received by TPREL in recent months and brings our solar bid wins to 145 MW.Receiving this Letter of Intent for 30 MW of non-fossil fuel energy will further add to our total generation capacity, thereby, significantly increasing our green footprint. This move is line with the Government’s set target of 100 GW from solar energy by 2017. As a company, we will continue to grow our capacity through organic and inorganic means over the next few years to contribute to Tata Power’s aggressive target of 20,000 MW of total capacity by 2025.. ” The JNNSM, launched in January 2010, is a major initiative of the Government of India that aims to establish India as a global leader in solar energy by creating favourable policy conditions for its diffusion across the country. JNNSM had initiatilly set a target to 20 GW of solar installations by 2022 that was reset to achieve five times more at 100 GW by 2022. ABB connects power to the Indian grid from one of the world’s largest solar plants ABB has announced that it has successfully commissioned five substations to integrate a 648-megawatt (MW) solar project at Kamuthiin the southern Indian state of Tamil Nadu to the national transmission grid. The project was awarded by independent power producer (IPP) Adani Group in 2015, and completed on schedule. The solar photovoltaic project – made up of five plants in a single location – is the largest of its kind in the world. 360 MW from the solar project is currently grid-connected and at full capacity this facility will account for nearly 10 percent of the country’s current solar capacity of around seven gigawatts (GW). The project contributes to India’s vision of achieving 100 GW of solar power by 2022,with the overall aim of diversifying its energy mix to meet growing demand while minimizing environmental impact. As part of this plan, the government has issued a proposal to implement 25 ultra-mega solar power projects with capacities between 500 and 1,000 MW over a period of five years. “We are proud to support the country’s clean energy vision and push for solar power which demonstrates its commitment to sustainable growth,” said Claudio Facchin, President of ABB’s Power Grids division. “This project exemplifies our end-to-end power and automation system integration capabilities and reinforces our commitment to the renewable energy sector, a key component of ABB’s Next Level strategy.” 16 energetica INDIA · MAY16


energetica-india-57_asiapowerweek
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