Mumbai, January 11, 2024: Apraava Energy, a leading 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 Corporation (NHPC) in Rajasthan. The project, won through the e-reverse auction mechanism at a walk-out tariff of INR 2.53 per kWh, is scheduled to be completed within 24 months. This is Apraava’s first greenfield solar power project from the auction route.
Commenting on securing the new solar project, Mr. Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said, “We are excited to strengthen our solar energy portfolio with this win in Rajasthan, a pivotal state driving the growth of renewable energy in India. Apraava is committed to collaborating with our partners, ensuring that this project meets the best operational standards, and actively contributing to India’s ambitious carbon-neutral goals. We are optimistic about India’s vision for a sustainable future and will continue to explore similar opportunities in the future.”
The Power Purchase Agreement (PPA) between the NHPC and Apraava Energy is for a period of 25 years, from the scheduled commissioning date. As part of the agreement, Apraava Energy will be responsible for design, construction and operation of the project for the PPA tenure. The company’s current operational portfolio of RE (Solar and Wind) stands at 1312.6 MW, with projects spread across the states of Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana and Karnataka. In addition, Apraava has ~660 MW of RE projects under-construction.