Apraava Energy expands its RE portfolio with a 300 MW wind energy project win in Karnataka – EQ
Mumbai : Apraava Energy, a leading integrated energy solutions provider, announced today that it has secured a 300 MW wind energy project in Aski, Karnataka. The project is part of the 1200 MW auction capacity of Inter-State Transmission System (ISTS)-connected wind power projects (Tranche-XIV) from the Solar Energy Corporation of India (SECI). The construction of the project will be completed within the stipulated timelines as per Power Purchase Agreement (PPA), which is for a period of 25 years at a competitive tariff of INR 3.24/kWh.
Commenting on the project win, Mr. Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said, “This is our third wind project in the state of Karnataka, which offers tremendous opportunities for RE growth. With the rich experience of being early adopters of wind power generation in the country, coupled with expertise of working with marquee O&M partners, we aim to build the project with the highest operational standards. The government’s efforts through SECI and other federal agencies have been instrumental in bringing much-needed transparency to the bids, resulting in the accelerated growth of renewable energy and bringing the nation closer to its ambitious energy transition goals.”
As part of the agreement, Apraava Energy will be responsible for acquiring the land, developing the wind farm, and establishing the grid infrastructure up to the metering point at the ISTS grid substation. The company’s current RE portfolio (Solar and Wind) stands at 1176 MW, with projects spread across the states of Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana and Karnataka.
About Apraava Energy
Apraava Energy is an integrated energy solutions provider, 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.
Founded in 2002, Apraava has evolved from being a single-asset company to a forward-looking, climate-conscious organisation. Its portfolio comprises 3,150 MW of installed capacity which includes 924MW of wind and 250 MW of solar energy projects, a 1320 MW coal-fired super critical power plant and two power transmission assets spread across 11 states. In addition, two greenfield transmission projects & one wind project are under construction. The company has also forayed into Advanced Metering Infrastructure (AMI) business and will install around 3 million smart meters in Assam and Gujarat.
Apraava Energy is among the handful Indian power sector companies to commit to the SBTi and only the second in the sector to have them validated.
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.
