About the company


PLG Clean Energy Projects Private Limited (PLGCEP) is a Renewable Independent Power Producer (Re-IPP) aiming to make Renewable Energy an affordable source of energy worldwide. We build, operate and own solar power plants. PLGCEP is a Renewable Energy Startup focused on developing 2 GW of solar power plants by 2019. PLGCEP has won and secured 230 MW of solar power plant PPAs under disruptive transparent reverse bidding mechanism of Govt. of India. These 230 MW solar power plants are an investment opportunity of $230 million. PLGCEP is a Group Co of BS Group

BS Group is one of India’s largest Power and Infrastructure Groups with business interests in Renewable Energy, Transmission and Distribution (T&D) EPC, Turnkey BOOT Projects, Tower Manufacturing Facility of 240,000 MT (India’s largest capacity at one single location) and Backward Integrated Structural Mill with 120,000 MT capacity. BS Group’s consolidated annual revenues for the last five financial years are in excess of $2 billion or INR 13,160 Crores.

Trackrecord:

PLGCEP developed India’s first 20 MW Solar Power Plant – a Dedication to the Nation at Patan, Gujarat with an investment of INR 340 Crores ($ 65 million then in Dec 2011). PLGCEP exited the investment and successfully sold the 20 MW solar power plant asset to Zamil Group – a $ 5 billion conglomerate.

Our Strategy:

PLGCEP believes that the way forward is Strategic Partnerships for Sustainable Growth. Our Strategy is to form strategic global alliances and partnerships and these small steps will be a huge leap for renewable energy.

Roadmap of Projects:

PLGCEP is committed to develop 2GW of solar power plants by 2019. PLGCEP has Won and Secured 230 MW Solar Power Plant Project PPAs under disruptive transparent reverse bidding mechanism of Govt. of India. These 230 MW solar power plants are investment opportunities of INR 1564 Crores ($ 230 million) securing low-volatile, fixed, annuity revenue of more than $ 1 billion over 25 years.

230 MW Solar Power Plants

70 MW Solar Power Plant - Maharashtra
Policy: Under Solar Energy Corporation of India (SECI) Policy, a Govt. of India Undertaking (under Ministry of Power and MNRE)
Tariff: INR 4.43 KwHr ($0.065) for period of 25 years + Viability Gap Funding (VGF) of INR 54 Lacs ($80,000) per MW
Generation: 119 Million Units of Green and Clean Power annually
Sustainable Energy for all: Electrification for 60,000 households annually
Clean Energy: Reduction of Carbon Emissions by 90 MT annually

100 MW Solar Power Plant – Jharkhand
Policy: Under Govt of Jharkhand Solar Policy 2016
Tariff: INR 5.42 KwHr ($0.08) for period of 25 years
Generation: 170 Million Units of Green and Clean Power annually
Sustainable Energy for all: Electrification for 86,000 households annually
Clean Energy: Reduction of Carbon Emissions by 130 MT annually

60 MW Solar Power Plant – Rajasthan
Policy: Under NTPC Policy (DCR Content)
Tariff: INR 5.07 KwHr ($0.076) for period of 25 years
Generation: 102 Million Units of Green and Clean Power annually
Sustainable Energy for all: Electrification for 55,000 households annually
Clean Energy: Reduction of Carbon Emissions by 80 MT annually

600 MW Solar Power Plants – Under Bid Stage currently. Investment Opportunity of INR 4,030 Crores ($ 600 Million)

2 GW Solar Power Plants with planned investments of INR 13,600 Crores ($ 2 Billion) PLGCEP is committed to develop 2GW of solar power plants over 2016 to 2019. PLGCEP has won and secured 230 MW solar power plant licenses in Jan and Feb 2016 and has lined up planned bids of 600 MW in the next quarter. PLGCEP aims to win 1 GW of solar power plant approvals and licenses by Dec 2016 and is raising equity investments to the tune of $ 500 million to fuel the planned renewable energy growth.


Our Approach


PLG Clean Energy Projects (PLGCEP) is committed to set up, build, develop, finance, own & acquire Renewable Energy Assets – Solar & Wind and build a sustainable long term renewable asset portfolio of 5000 MW (5 GW) in the next 6 years by 2020 through PLGCEP’s strong partnerships across the entire renewable energy space. PLGCEP is continuously engaged in looking for new opportunities to develop & set up renewable energy assets across India. Currently PLGCEP is developing 230 MW Solar Power Plants in Maharashtra (70 MW), Rajasthan (60MW) and Jharkhand (100MW). PLGCEP aims to secure another 600 MW solar power plant projects (currently under bid stage). Our approach is to cover the entire value chain from project inception to successful commissioning of the project to operating the project asset for its minimum lifetime period of 25 years.


Our Responsibility & Our Ambition


PLGCEP is committed to generate 5000 MW (5 GW) of Renewable Energy by 2022 which will lead to Generation of 10 Billion Units of Renewable Energy annually for India, which will provide Clean and Affordable Power to 10 Million Indian Households annually and which will Save 8.5 MT of Carbon Emissions annually for the world. PLGCEP is committed to substantially contribute to India’s vision of meeting 100% of its Energy Requirements through Renewable Energy Sources in the next 50 years.

India receives abundant sunshine and can meet its entire energy requirements by developing cost effective, sustainable, affordable, scalable, utility scale Ultra MW solar power plants and wind power plants over the next five decades. Sun is the cleanest source of energy known to our planet and we shall harness this purest form of energy known to mankind and re-energize the future energy outlook of India.

Timeline

  • Past Trackrecord 2008

    Invested INR 200 Crores ($35 Million) then in 2008 to set up world class 25 MW Solar Module Manufacturing Facility with Turnkey Technology from Spire Corporation, USA. Exported 72 MW Solar Panels to the European Union.

  • Signed 40 MW Power Purchase Agreement (PPA) with Govt. of Gujarat. India's largest PPA for solar power then in 2010 with PPA Tariff being INR 15 per KwHr ($ 0.25) for the 1st 12 Years & INR 5 per KwHr ($ 0.083) from the 13th to 25th Year

    Past Trackrecord 2010

  • Past Trackrecord 2011

    Developed India's 1st 20 MW Solar Power Plant with an Investment of INR 340 Crores ($ 65 Million) then in 2011. It was the largest solar power plant built in the country at that time, spread over 125 acres of land

  • PLG Clean Energy Projects is developing 2GW of solar power plants under IPP mode, which are an investment opportunity of INR 13400 Crores ($2 Billion)

    Currently in 2016

  • Vision 2025

    Vision to develop 15000 MW (15 GW) of solar power generation plants & 5000 MW (5 GW) of wind power generation plants by 2025 with an investment of ($20 Billion). Renewable Energy is going to be the Future of Energy & PLGCEP will Re-Energize the Future with its Renewable Asset Portfolio of 20 GW by 2025

  • We are committed to Sustainable Energy!

Meet the Renewable Energy Team

Rajesh Agarwal
Chairman

Kiran Patil
Managing Director

Punit K Goyal
Chief Executive Officer