LTL constructing two solar projects in Rajasthan, India
View(s):By Duruthu Edirimuni Chandrasekera
LTL Holdings Ltd subsidiary, Asiatic Electrical & Switchgear Pvt Ltd (AESPL) has managed to secure two Solar Projects – 4 megawatts (MW) each, in Rajasthan, India under the Kusum scheme of Jaipur Vidyut Vitran Nigam Limited (JVVNL).
LTL Holdings CEO, Nuhuman Marikkar told the Sunday Times Business on Tuesday that the construction of these two projects commenced last month. “We secured both the solar projects, through competitive tenders under the Saur Krishi Ajivika Yojna (SKAY) initiative under the KUSUM scheme,” he said.
LTL Holdings Pvt Ltd. completed the full acquisition of Asiatic Electrical & Switchgear Pvt. Ltd in mid-2016, thereby rapidly expanding LTL’s product portfolio. “LTL Holdings’ collaboration empowered Asiatic to chart a growth path in the Electrical Switchgear market as well as the solar industry,” Mr. Marikkar explained.
The JVVNL is in for the solarisation of agriculture consumers aiming to design, survey, supply, install, test, commission, operate, and maintain solar power plants in Rajasthan. Under the SKAY scheme, the government encourages farmers to utilise their barren and unutilised land to generate solar power. This will provide an additional source of income for farmers and contribute to the state’s renewable energy goals.
The solar power plants will be set up on a RESCO (Renewable Energy Service Company) model, where LTL will be responsible for the installation, operation, and maintenance of the plant. As the selected developer, LTL will receive financial support from the Ministry of New and Renewable Energy (MNRE) as per the guidelines of the PM-KUSUM scheme.
The power generated by these solar plants will be procured by the Rajasthan Discoms at a fixed tariff for 25 years. This will ensure a reliable and sustainable source of electricity for rural areas with predominantly agricultural loads.
By promoting decentralised solar power generation, the government of Rajasthan aims to reduce dependency on conventional sources of energy such as coal, oil, and gas. This will contribute to the country’s commitment to achieving net-zero emissions and mitigating climate change.
The SKAY portal is expected to play a crucial role in achieving Rajasthan’s goal of becoming a green energy state and providing affordable electricity to all its consumers. It will facilitate the development of solar power plants in rural areas, tapping the state’s vast solar power potential and utilising its abundant land resources.
Established over 35 years ago to produce transformers for Sri Lanka’s national grid, LTL Holdings Ltd is mostly owned by the Ceylon Electricity Board and employs over 300 Sri Lankan engineers both in Sri Lanka and in other parts of the world.
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