Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Resolven has secured a 200 MW Inter-State Transmission System (ISTS)-connected wind power project from the Solar Energy Corporation of India (SECI) under a 2,000 MW wind energy tender. The project was awarded at a levelized tariff of INR 3.85 per kWh and will be developed in Karnataka. It will operate under a 25-year Power Purchase Agreement (PPA) and is scheduled to be commissioned by June 2028. The latest order strengthens Resolven's renewable energy portfolio, taking its under-construction pipeline to 1.8 GW while further expanding its overall awarded capacity.
New Delhi: Independent power producer Resolven has secured a 200 MW Inter-State Transmission System (ISTS)-connected wind power project from the state-owned Solar Energy Corporation of India (SECI). The project was awarded under SECI's 2,000 MW wind energy tender at a competitive levelized tariff of INR 3.85 per kWh.
The wind power project will be developed in Karnataka and will be executed under a 25-year Power Purchase Agreement (PPA). The project is scheduled to be commissioned by June 2028, in line with the tender timeline.
The company said the award further strengthens its renewable energy portfolio and reflects its continued participation in central government renewable energy auctions. SECI, which functions as one of India's key Renewable Energy Implementing Agencies (REIAs), regularly invites bids for large-scale renewable energy projects to support the country's clean energy capacity addition targets.
Resolven Chief Executive Officer Parag Sharma said that the company's financial backing from EQT's growth capital has provided it with the balance sheet strength and the ability to participate in competitive bidding while maintaining tariff discipline and project bankability. He added that securing multiple wind project awards from central Renewable Energy Implementing Agencies within a short period reflects the company's strategy of pursuing disciplined and sustainable growth.
With the latest project award, Resolven's under-construction renewable energy pipeline has increased to 1.8 GW, while its total awarded capacity has reached 2.7 GW. The company also said that its operational portfolio has now grown to 1 GWp, highlighting the steady expansion of its renewable energy business.
The latest project comes as India continues to accelerate renewable energy capacity addition through competitive bidding by central agencies such as SECI. The government has been expanding large-scale wind and solar tenders to help achieve its target of 500 GW of non-fossil fuel-based installed power capacity by 2030, with Karnataka remaining one of the country's leading states for wind energy development due to its strong wind resource potential.
Source PTI
Advertisement
Facebook
Whatsapp
