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US-based Enfinity Global Adds 205 MW of Solar Capacity in India

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US-based Enfinity Global Adds 205 MW of Solar Capacity in India

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Enfinity Global, a US company, has increased its solar capacity by 205 MW in India. This was achieved through the interconnection of a 135-MW portfolio in Maharashtra and acquisition of six operational projects from Rays Power Infra. These were in the states of Telangana & Karnataka.

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Sandip Agarwal (Enfinity Global CEO India), commented on the development. “This capacity addition marks a significant milestone in Enfinity Global’s growth strategy for India.” As part of our existing pipeline, we will develop a hybrid portfolio of renewables of around 3 GW and continue to acquire operational assets across all segments to further strengthen our market presence. We also plan to expand into other sustainability areas like water management, sustainable mobility and hydrogen generation.

The company interconnected 135MW in 10 solar power plants in Maharashtra during H1 2022. These projects are part of India’s Mukhyamantri Saur Krishi Vahini Yajana. This program aims to increase India’s Agri PV growth, provide power to local farmers and promote sustainable agriculture.

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The power would be sell to Maharashtra State Power Generation Company, (Mahagenco), who has the largest generation capacity of all state power utilities in India. This is under a 25 year power purchase agreement (PPA). The 250,000 solar panels will produce 225 million units per year.

Enfinity Global acquired a 70 MW portfolio of solar power plants. The 47 MW plant in Karnataka is spread across three sites. The Telangana plants total 23 MW. All projects have PPAs with state-owned power distributor companies.

These six solar sites have 226,000 panels, which generate 108 million units of electricity. This is enough to power 98,352 homes and to save 103,000 tons CO2 emissions. It also allows for the planting of 4.9 million trees.

“Given their breadth of investing experience in the renewable space around the world and in India in the past, Enfinity Global was uniquely qualified for this acquisition. They are deal makers and are very innovative and flexible in deal structuring which give them a huge advantage over others. We are very excited to work with Enfinity on this acquisition and many more project in the future as Rays Power Infra continues to expand its operations and portfolio,” stated Ketan Mehta, Managing Director, Rays Power Infra.

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