Ayana Renewable Power Pvt Ltd has signed an expression of interest (EoI) with the Karnataka government to develop 2 GW of renewable energy capacity in the southern state.
The EoI envisages developing wind and solar power projects totaling 2 GW, with an aggregate investment of around Rs.12,000 crore.
This capacity addition will be enough to provide clean energy for nearly 2 million households, Ayana said in a release.
Ayana currently has an operational portfolio of 340 MW (AC) in Karnataka.
“Karnataka is a big pull for the renewable energy industry, and we are pleased to have partnered with it to expand the sector further,” noted Shivanand Nimbargi, MD & CEO, Ayana.
“The state, under its Renewable Energy Policy 2022-27, aims to develop 10 GW of additional renewable energy projects. Ayana is keen to help it achieve that target, creating an attractive and sustainable ecosystem for clean and green energy development,” he added.
According to information available with T&D India, Karnataka’s current renewable energy policy seeks to establish 10 GW of additional renewable energy projects with or without storage systems in the state, including up to 1 GW of rooftop solar PV projects, by 2027.
Also read: Ayana Renewable Partners With Greenstat Hydrogen For Green Hydrogen Projects
NIIF-backed
Ayana is a majority-owned company of the National Investment & Infrastructure Fund (NIIF). British International Investment (formerly CDC Group) and EverSource Capital-managed Green Growth Equity Fund (GGEF) are other shareholders in the company.
