Virescent Renewable Energy Trust, a leading renewable energy company, has announced its sixth acquisition – a 25 MWp operating solar asset from Samta Energy. With this acquisition, the company’s total portfolio size has increased to 563 MWp.
Samta Energy has developed & commissioned a 25 MW Solar Photovoltaic power project in Surendranagar, Gujarat state, on the 28thJanuary 2012. Since then this project has been generating & supplying power on a continuous basis to the Gujarat Government State utility. This project is one of the most efficient solar plant in the country with 99.9% uptime record.
This project based on photovoltaic technology, spread across 200 acres of land using Thin-Film modules and exporting power via 66 KV transmission line.
The acquisition of the 25 MWp operating solar asset is in line with Virescent Renewable Energy Trust’s strategy to expand its presence in the Indian renewable energy market. The asset is located in the Indian state of Gujarat, which is known for its high solar irradiation and favorable regulatory environment for renewable energy projects.
The Indian government has set a target of achieving 450 GW of renewable energy capacity by 2030, which includes 280 GW of solar energy. With the acquisition of the 25 MWp solar asset, Virescent Renewable Energy Trust is making progress towards achieving this target and contributing to India’s energy transition.
Overall, Virescent Renewable Energy Trust’s acquisition of the 25 MWp operating solar asset is a positive development for the company, the renewable energy sector in India, and the country’s efforts towards sustainable development.