New Delhi: Aprava Energy on Thursday said it has bagged a 250 MW solar power project from state-owned NHPC Ltd.
The project, won through e-reverse auction mechanism at a walk-out tariff of Rs 2.53 per kWh, is to be completed within 24 months, a company statement said.
This is Aprava’s first greenfield solar power project through the auction route.
The contract for the interstate transmission system (ISTS) connected solar power project in Rajasthan has been awarded by NHPC Limited, the statement said.
“We are excited to strengthen our solar energy portfolio with this win in Rajasthan, a key state driving the growth of renewable energy in India,” Rajeev Ranjan Mishra, managing director of Aparva Energy, said in the statement. ”The Power Purchase Agreement (PPA) between NHPC and Aprava Energy is for a period of 25 years from the scheduled commissioning date.
As part of the agreement, Aprava Energy will be responsible for the design, construction and operation of the project for the PPA tenure.
The company has an operational portfolio of renewable energy (solar and wind) of 1,312.6 MW, with projects spread across Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana and Karnataka.
Additionally, Aprava has 660 MW of renewable energy projects under construction.
Aprava Energy is owned by CLP Group, one of Asia’s largest investor-owned power businesses, and CDPQ (Caisse de dépôt et placement du Québec), a global investment group.
