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O2 Power has completed its first Indian solar project. The 250 MW solar project is located in Rajasthan’s Jaisalmer district.
Temasek and Alternative Asset Manager EQT supported the project.
It was completed in phases between April and May 2022. There are 1,030 MW projects in Rajasthan which is under development and the recently commissioned Jaisalmer project.
According to the company, the power will be sold to the Solar Energy Corporation of India (SECI) at Rs 2.50 per Kilowatt. Rajasthan Urja Vikas Nigam Limited (RUVNL) will then buy power from SECI. This project is part of O2 Power’s 500 MW portfolio purchased from Hero Future Energies in 2021.
O2 Power’s pipeline has grown to more than 1.8GW by a combination auction wins and acquisitions. This includes the Hero Future Energies projects. O2 Energy recently announced that the firm will also be offering storage solutions in the country through a joint venture with Powin Energy.
Also the company had won the RUMSL Agar Project auction. O2 Power had won a capacity of 350 MW, at ₹2.444