Ayana Renewable Power Private Limited (Ayana), a Bengaluru-based renewable energy platform majority controlled by National Investment and Infrastructure Fund (NIIF), today announced it has surpassed 1 GW (AC) of operational renewable energy capacity in India. It is now one of the largest RE developers in the nation with an operating portfolio of 1.19 GW (AC).
The developer hit the milestone with the commissioning of a 300 MW (AC) interstate transmission system (ISTS) connected solar PV project in the Bikaner district of Rajasthan. The project is spread across approximately 1,500 acres and is connected to 765/400 KV PowerGrid substation. The project benefits from a 25-year power purchase agreement with the Solar Energy Corporation of India (SECI).
The Rajasthan plant, one of the largest projects developed by Ayana, has generated employment for close to 2,000 people. In addition, the project is expected to meet the equivalent demand of 1,41,000 end consumers, and it is estimated to help avoid 6,23,000 tonnes of annual CO2 emissions over 20 years.
Founded in 2018, Ayana is also backed by CDC Group, UK’s development finance institution, and EverSource Capital managed Green Growth Equity Fund (GGEF). The platform develops utility-scale renewable power solar and wind generation projects across India to build cost-effective capacity. Ayana, currently engaged in the development and management of over 3 GW (AC) of renewable energy capacity across multiple Indian states, aims to hit an overall RE portfolio of 10 GW (AC) by 2025.
Shivanand Nimbargi, managing director and chief executive officer of Ayana, said, “We started Ayana with a vision to create significant renewable energy capacity across India, complementing it with the development of communities around us. With the support of our stakeholders, we have achieved this significant milestone of 1 GW (AC) operational renewable energy capacity, which is in line with our long-term goal to achieve 10 GW (AC) of renewable energy portfolio by 2025. We will continue to accelerate and contribute to meeting India’s energy transition plan of having an RE capacity of 500 GW (AC) by 2030.”
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