ThomasLloyd announced today that its investee company SolarArise India Projects Private Limited (“SolarArise”) has commissioned a 27 Megawatt (“MW”) Solar PV plant in Kerehalli village, Koppal District, State of Karnataka, India on 8 August 2019.
The new solar plant operates under Talettutayi Solar Projects Two Private Limited, a special purpose vehicle (SPV) set up by SolarArise, and has a 25 year Power Purchase Agreement (“PPA”) with the Bangalore Electricity Supply Company Limited (BESCOM), an ICRA – “A” rated government off taker. The plant is expected to generate approximately 47 million kilowatt-hours per year of clean energy in Karnataka State.
For ThomasLloyd, Nandita Sahgal Tully, Managing Director Merchant Banking, said: “Commissioning of the site is a major milestone towards providing clean electricity to around 42,000 people in the Karnataka region. We are proud to have been part of this project supporting India’s goals for a clean-energy future.”
For Management, Founder and Director, Mr. Anil Nayar, said: “Our experienced teams worked closely with our contractors allowing us to commission this project three months prior to the deadline. As long-term project owners, our teams continue to learn and improve through each project to deliver on-time and quality projects.”
About SolarArise India Projects Private Limited
SolarArise is an Indian focused project developer which develops, owns and operates grid-connected solar PV projects in India. The company was founded by James Abraham, Anil Nayar and Tanya Singhal in 2014 backed by GEEREF, CIIF and ThomasLloyd Group. Together they have significant experience in technology R&D, policy advocacy, execution, regulatory liaising, financing and operations of solar assets.