P2 Solar, developer
of an array of solar photovoltaic (PV) and hydro power projects, has signed an
Implementation Agreement with Punjab Energy Development Agency (PEDA), Punjab
State’s governing authority on all renewable energy projects.
Per the agreement,
P2 Solar has permissions to establish, operate, and maintain the Rajgarh
Mini-Hydro Project on a build, own, and operate basis, as well as allows for
the non-consumptive use of the canal water for the purpose of power generation
during the initial 35-year agreement period. After 35 years, with mutual
consent from PEDA and P2 Solar, the agreement will either be extended or PEDA
will buy the project outright at market price.
The Rajgarh
Mini-Hydro Project is located on the Sidhwan irrigation canal near the city of
Ludhiana in Punjab, India, upstream from P2 Solar’s other mini-hydro project,
Project Tibba.
“This is another
significant step as we can now hire an EPC (Engineering, Procurement, and
Construction) contractor and start planning construction of the project. We
will be in a position to announce hiring of the EPC and construction start date
in six to eight weeks,” Raj-Mohinder Gurm, CEO of P2 Solar, stated in the news
release.
Aside from P2
Solar’s pursuit of opportunities within the mini-hydro power market, the
company is primarily focused on building new solar PV projects where renewable
energy policies are favorable and where the public and private sectors are
actively seeking to incorporate solar PV into their electricity consumption
profiles.
For more
information, visit www.p2solar.com
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