Renewable energy
company P2 Solar, a developer of solar photovoltaic (PV) power and mini-hydro
projects, is operating under an aggressive, management-ordained mandate to
develop 150MWp of electricity-generating capacity in the next few years.
P2 Solar’s current
project portfolio includes the company’s Rajgarh small-hydro site, located on
the Sidhwan irrigation canal in Punjab, India, which is upstream from the
company’s Project Tibba mini-hydro site. Together, the company believes that
these two projects, when fully operational, will generate annual revenues of
more than $700,000. These projects represent P2 Solar’s first significant
projects under development in India.
In regards to the
Rajgarh Hydro Project, P2 Solar recently signed an implementation agreement
with Punjab Energy Development Agency (PEDA), Punjab State’s governing
authority on all renewable projects, in which the company now has permission to
operate and maintain the project and to use the canal water for power
generation for 35 years.
After thermal
energy, hydropower electricity is the second-most important source of energy,
according to DTA Consulting. P2 Solar is strengthening its foothold in the
renewable energy as India’s newly installed Prime Minister, Narendra Modi,
begins laying the groundwork for an upgrade of the country’s overworked energy
market with a focus on a range of renewable energy sources.
In earlier years,
the Indian government has taken steps to accelerate hydropower development, and
Prime Minister Modi earlier this week breathed new life into the initiative by
agreeing to build four new joint-venture hydropower projects in Bhutan.
As the demand/supply
gap of power in India continues to grow, along with a growing population and
economy, P2 Solar is in an incredible position to leverage government
initiatives and support to achieve its power generation goals.
For more information
visit www.p2solar.com
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