Insolation Green Energy Pvt Ltd, a wholly-owned subsidiary of Insolation Energy Ltd, has received a mandate to develop over 226 MW of solar PV plants at 135 sites in Rajasthan.
A release issued by Insolation Energy said that Insolation Green Energy Pvt Ltd has been awarded a letter of intent for design, survey, installation, testing, commissioning and O&M for 25 years for solar PV plants spread across 135 locations in Rajasthan.
The letter of award was issued by Jaipur Vidyut Vitran Nigam Ltd (JVVNL) for 20 sites and Ajmer Vidyut Vitran Nigam Limited (AVVNL) for 115 sites. Both JVVNL and AVVNL are state government-owned power discoms in Rajasthan.
The solar projects, aggregating 226.45 MW, will be developed under RESCO (renewable energy service company) mode, and are part of the “PMKUSUM Component A” scheme.
Electricity generated at these 115 sites will be sold to the discoms at tariffs varying from Rs.2.60 per kWh to Rs.3.04 per kWh. The release specified that the final levelized tariff will be Rs.3.04 per kWh for 16 sites, Rs.2.82 per kWh for five sites, Rs.2.75 per kWh for 53 sites and Rs.2.60 per kWh for 61 sites.
Insolation Green Energy Pvt Ltd will also be responsible for connecting the solar plants through 11kV lines to various 33/11kV substations and remote monitoring of the solar plants.
The RESCO developer expects to invest around Rs.750 crore (inclusive of GST) for developing these solar power plants. Further, the total solar power generation from these plants is expected to be in the region of 362.23 million kWh (million units) per year, yielding total revenue of around Rs.98.47 crore per year.
The 135 solar sites envisaged in the contract are expected to turn commercial during FY27.
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