Apraava Energy, a Mumbai-based integrated energy solutions provider, announced today that it has been awarded a 250 MW interstate transmission system (ISTS) connected solar energy project by National Hydroelectric Power Corp. (NHPC). The project is located in the Indian state of Rajasthan.
Apraava Energy won the project through an e-reverse auction at a tariff of INR 2.53 ($0.030)/kWh.
The project is scheduled for completion within 24 months. It is Apraava’s first greenfield solar power project from the auction route.
Apraava Energy will supply the power generated at the plant under a 25-year power purchase agreement (PPA) with NHPC.
As part of the agreement, Apraava Energy will be responsible for the design, construction, and operation of the project for the PPA tenure.
Currently, the company has an operating RE portfolio of 1,312.6 MW (1062.6 MW wind and 250 MW solar), with projects spread across the states of Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana and Karnataka. In addition, it has 660 MW of RE projects under construction.
The company portfolio also includes a 1,320 MW coal-fired super-critical power plant and two power transmission assets spread across eleven states. It has also forayed into the advanced metering infrastructure business and is executing orders of three million smart meters in Assam and Gujarat.
Going ahead, the Mumbai-based company will only invest in low-carbon growth areas, including renewable energy, power transmission and distribution, as well as other non-generation, customer-focused energy businesses.
Apraava Energy is jointly owned by the CLP Group, one of the largest investor-owned power businesses in Asia, and Caisse de dépôt et placement du Québec (CDPQ), a global investment group.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.