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Ayana Renewable Power Pvt Ltd is expanding its presence in Karnataka through the establishment of renewable energy projects totaling 2 GW at an investment of Rs 12,000 crore.
Ayana stated in a Wednesday statement that the company currently has a portfolio of 340 MW AC in operation.
“The company signed an expression of interest with the government of Karnataka for development of wind and solar power projects with a total capacity of 2 (GW) with an investment of approximately Rs 120 billion (Rs 12,000 crore). Ayana currently has a portfolio of 340 megawatts-alternate currents (MWAC) in operation,” it stated.
The company is aiming to supply clean energy to nearly 2 million homes by adding 2 GW green capacity.
Ayana said that Karnataka’s Renewable Energy Policy 2022-2027 aims to create 10 GW more renewable energy projects. Shivanand Nimbargi (MD & CEO of Ayana) stated that Ayana is keen to help achieve this target.
He said, “Karnataka has a huge pull for the renewable power industry, and it is pleased that we have partnered with them to expand the sector further.”
According to the statement the National Investment and Infrastructure Fund, (NIIF), is a major stakeholder in Ayana, a Bengaluru-based company. Other shareholders include EverSource Capital and British International Investment.
This company is one of India’s fastest growing renewable energy producers.