Mumbai investor Edelweiss Group will gain a controlling stake in the generation assets in a deal which Engie says will allow it to reduce its debt by Rs3,160 crore.
Under the MoU, Energy Efficiency Services Ltd will make the investment on services along with the operation and maintenance of the public charging infrastructure, while the telecom operator would provide the space and power connections.
The purchased solar portfolio is relatively young with average remaining PPA life of around 22 years.
The success of the e-bike cycling tours – which operate out of recycled shipping container ‘e hubs’ – looks set to be replicated in four more states in short order.
The ground-mounted solar PV plants are to be set up at the oil and natural gas company’s terminals in the states of Telangana (750 KW), Uttar Pradesh (550 KW) and Punjab (230 KW). Bidding closes on June 4.
This 1.2 MWp project would generate more than 80% of power requirements of the Akal University and 13 Akal Academies. It has been built at a total cost of Rs 5.2 crore, out of which the Ministry of New and Renewable Energy has provided a total subsidy of around Rs 1.7 crore.
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