On the Thursday,Apraava Energy which is jointly owned by the CLP Group — one of the largest investor-owned power businesses in Asia and global investment group CDPQ (Caisse de dépôt et placement du Québec) grabbed 250MW solar energy project from the state owned authority namely National Hydroelectric Power Corporation(NHPC) Ltd. in Rajasthan.
This interstate transmission system (ISTS) connected solar energy project has been awarded by the NHPC Ltd in Rajasthan, the statement said.This is Apraava’s first greenfield solar power project through the auction route.
The project was won by an e-reverse auction mechanism at exiting price of Rs.2.53 kWh.As per company’s statement,the project is scheduled to be completed within 24 months of from the date of starting.
The Power Purchase Agreement (PPA) between the NHPC and Apraava Energy is made for the timeline of 25 years from the scheduled commissioning date.As part of this compliance, Apraava Energy will be accountable for design, construction and operation of the project for the PPA tenure.
Currently,The company holds 1312.6 MW of(solar and wind) projects under its operational portfolio,which are spreaded across Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana and Karnataka.Moreover, Apraava has 660 MW of renewable energy projects under-construction.
“We are excited to strengthen our solar energy portfolio with this win in Rajasthan, a pivotal state driving the growth of renewable energy in India……. We are optimistic about India’s vision for a sustainable future and will continue to explore similar opportunities in the future”,Rajiv Ranjan Mishra,Managing Director of Apraava Energy, said in the statement.
