UK based global investor ThomasLloyd has announced that its investee SolarArise has commissioned a 75 MW solar PV plant in the Indian state of Uttar Pradesh. The plant, located in Khera village of the Budaun District, will deliver clean energy to over 100,000 people in Northern India.
The solar plant, operating under Talettutayi Solar Projects Five, benefits from a 25-year power purchase agreement signed with the state-owned Uttar Pradesh Power Corporation Limited. The plant is expected to generate around 120 million kilowatt-hours per year of clean energy.
The engineering, procurement and construction (EPC) work was carried out by Noida-based Jakson. JA Solar supplied mono PERC modules for the plant, according to a previous statement by ThomasLloyd.
Nandita Sahgal Tully, managing director-infrastructure asset management at ThomasLloyd, said the plant was successfully commissioned against the challenging backdrop triggered by the Covid-19 pandemic.
SolarArise was founded in 2014 by James Abraham, Anil Nayar and Tanya Singhal. Other shareholders besides ThomasLloyd are the Global Efficiency and Renewable Energy Fund, advised by the European Investment Bank Group, the Core Infrastructure India Fund, managed by Kotak Mahindra Bank, and the founding team.
Currently, SolarArise has a portfolio of 384 MW (DC), comprising six operational plants with a total capacity of 234 MW across four states in India. The capacity for an additional 150 MW is already funded. All plants benefit from long-term power purchase agreements with either central government or state counterparties.
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