Welspun Energy with its own dedicated business development, engineering, execution and maintenance teams was amongst the first and largest players in Indian Solar Sector. 151 MW project in Neemuch, Madhya Pradesh was the largest of its kind in 2013 and was its debt was funded by a consortium of banks lead by Central Bank of India. Gensol was brought in as Lender’s Independent Engineer because of its high standards of integrity and performance while giving lenders the benefit of low turnaround time.
Welspun Energy was amongst the early movers in Solar Sector having many firsts to its name including building India’s largest solar project in 2013 of 151 MW capacity spanning across 700 acres of land. The project was so large for its time that it was funded by a consortium of 6 lenders lead by Central Bank of India.
Started in 1911, Central Bank of India is amongst the oldest and largest commercial banks in India. In 2013, which were still considered early days for Solar Power in India, Central Bank of India took the plunge of extending loan to India’s largest solar project while ensuring that it took onboard trustworthy partners and hence, Gensol was appointed as Lender’s Independent Engineer for the consortium.
Gensol with its deep technical expertise, impeccable integrity and low turn around times guided the lenders through Initial Technical Assessment including generation and land analysis, technology appraisal, cost and contract review etc. Further, multiple on site visits were undertaken to ensure compliance to implementation schedule, quality standards and statutory requirements. Lastly, Gensol engineers also witnessed and analysed the Commissioning Tests to establish the long term health and performance of the plant.
The quality and progress of the project which was appraised by Gensol, then attracted GE’s investment to become its first renewable energy investment in India. This project then later became a part of Tata Power as a part of its acquisition of all Welspun Energy’s solar assets.