Shriram EPC ties with ENER-T for Abhijeet’s 50 MW CSP Project…

From the market reports, Spark learnt that, Shriram EPC Ltd has tied up with ENER – T (an Israeli company) for executing a Rs 640-crore order from Abhijeet Projects Ltd for providing ‘engineering, procurement, construction' services for Abhijeet's 50-MW solar thermal power plant at Jaisalmer, Rajasthan.

 

Abhijeet Projects is the special purpose vehicle of Corporate Ispat and Alloys Ltd, which has won a 50 MW project through the NVVN’s bidding process under the Jawaharlal Nehru National Solar Mission.

Shriram EPC has forayed into solar power sector in collaboration with ENER-T International Ltd of Israel, a company formed by people who have together worked on several solar thermal projects in California and Spain.

All contracts secured after the formation of the joint venture would be executed by the joint venture, he said.

The scope of work of Abhijeet’s order includes the design, engineering, procurement, supply, erection, testing and commissioning for the entire project.

The project is scheduled for completion in 20 months.

Abhijeet's is the first project to announce the finalization of EPC contract among the seven winning bidders of solar thermal projects under the Mission.

Market buzz is that Reliance (Rajasthan Sun Technique Energy) is talking to Areva, but there has been no announcement as yet.

Abhijeet Group won the project by bidding a tariff of Rs 12.24 per unit, the highest tariff amongst the seven developers who won the thermal projects. Spark believes that, at this price, it is unlikely that there will be any significant margins for the developer. The time frame of 20 months is also very aggressive.