Mining major Vedanta’s subsidiary, Bharat Aluminium Company Ltd (BALCO), has signed a Power Delivery Agreement (PDA) with Serentica Renewables India Private Ltd (SRIPL) to procure 105 MW of hybrid renewable power for its aluminium operations in Chhattisgarh.
The companies will establish a Special Purpose Vehicle (SPV) to oversee the project, with BALCO owning 26% equity in the SPV.
The project will be funded on a 70:30 debt to equity basis and will be built on a captive model and build own operate basis. The PDA will be valid for 25 years from the project’s commissioning date, and the SPV will commence power delivery within 24 months of signing the agreement.
This initiative will enable BALCO to ensure a consistent supply of renewable energy for its aluminium business.
, has signed a PDA with Serentica Renewables India Private Ltd (SRIPL) to establish a Special Purpose Vehicle (SPV) and procure 105 MW of hybrid renewable power for its aluminium operations in Chhattisgarh. The project will be built on a captive model and will operate on a 70:30 debt to equity basis, with BALCO owning 26% equity in the SPV.){kind=link}