Deals9 Jan 2026, 12:58 pm
Ravindra Energy Ltd Secures 62 MW Solar Power Projects in Karnataka
AI Summary
Ravindra Energy Limited (REL) has been awarded 13 Letters of Awards (LOA) from Hubli Electricity Supply Company Limited’ (HESCOM) to establish, develop, and operate an aggregate capacity of 62 MW(AC) Solar Power Generators (SPGs) on a Build Own and Operate (BOO) basis in Karnataka state. The projects are spread across 13 sub-stations of HESCOM, with a 25-year Power Purchase Agreement (PPA) at an average tariff of Rs. 2.95 per unit. The project is expected to be commissioned within 12 months from the date of the PPA, with an estimated project capital expenditure of approximately Rs 225 Crore.
Key Highlights
- 62 MW (AC) projects spread across 13 sub-stations of HESCOM
- 25-year Power Purchase Agreement (PPA) with HESCOM
- Average tariff of Rs. 2.95 per unit
- Commissioning timeline of 12 months from PPA date
- Estimated project capital expenditure of approx. Rs 225 Crore