In a release issued this week, US-based Enfinity Global announced it has added 205 MW of solar capacity in India through the interconnection of 135 MW of projects in the state of Maharashtra and the acquisition of six operational projects from Rays Power Infra in the states of Telangana and Karnataka.
This capacity addition marks an important milestone for Enfinity Global, which entered the Indian market last year.
“We will continue to strengthen our market presence by developing a hybrid renewable portfolio of about 3 GW as part of our current pipeline and continue to acquire operational assets across segments,” said Sandip Agarwal, Enfinity Global CEO for India. “We are also expanding into other sustainability areas such as water management, sustainable mobility, hydrogen generation and circular economy.”
Enfinity Global built and interconnected 135 MW across ten different solar power plants in Maharashtra during the first half of 2022. It built these projects under Mukhyamantri Saur Krishi Vahini Yojana, which seeks to provide day-time power to the local farmers while contributing to a more sustainable agricultural activity. The power produced will be sold to Maharashtra State Power Generation Co. (Mahagenco) under a 25-year power purchase agreement (PPA).
“The 250,000 solar panels installed will generate 225 million units of electricity per year, equivalent to lighting 189,000 Indian homes and reducing some 200,000 tons of CO2 emissions, equivalent to the amount absorbed by 9.5 million mature trees,” stated the company.
The 70 MW of solar power portfolio acquired from Rays Power Infra includes six operational plants in the states of Telangana and Karnataka.
The portfolio acquired in Karnataka includes 47 MW spread over three sites, while the plants acquired in Telangana comprises three other sites totaling 23 MW. All the projects have PPAs signed with state-owned power distribution companies.
The six sites have a total of 226,000 solar panels installed, generating 108 million units of electricity sufficient to power 98,352 households and save 103,000 tons of CO2 emissions, equivalent to planting 4.9 million mature trees.
Enfinity Global Inc., established in 2019, focuses on developing, financing, building, operating, and owning renewable energy assets. It is present in India since early 2021, thanks to the integration of Tepsol, a Hyderabad-based solar energy joint venture previously owned by EverStream Energy Capital Management LLC and Think Energy. The company operates renewable energy projects across the states of Telangana, Karnataka, Maharashtra and Uttar Pradesh. Its current portfolio includes a pipeline of over 2 GW of commercial and industrial (C&I) and public utility projects under different stages of development.
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