Shree Ganesh’s solar projects in UP, Bihar likely by Oct

August 24th, 2012 - 11:42 pm ICT by IANS  

Kolkata, Aug 24 (IANS) City-based jewellery maker Shree Ganesh Jewellery House (SGJHL), which had earlier forayed into solar power business, Friday said it was hopeful of commissioning its proposed solar power plants in Uttar Pradesh and Bihar by October.

Kolkata-headquartered Alex Group of Companies will operate the two solar power units - 50 MW in Uttar Pradesh and 75 MW in Bihar. The jewellery maker has a majority stake in Alex Group, co-promoted by the Surekha Group.

“We have already received permission from both the state governments for the two solar projects. We are hopeful of commissioning the plants in the next couple of months,” Shree Ganesh Jewellery chief financial officer Ashok P. Sahani said here.

Works at the two projects are in advance stages of completion, Sahani added.

The company had earlier invested in two 25-MW solar power projects in Odisha and Gujarat and one 5-MW solar power project in Rajasthan.

Commercial production in the Gujarat plant, executed through Alex Group, started in April this year.

The company expects Rs.60 crore revenue from its solar power business in Gujarat during this financial year.

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