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Ayana Renewable to Invest Rs 12000 Crore in 2 GW RE Projects in Karnataka

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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.

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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.”

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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.

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