K2 Infragen To Build 2 MW Solar Plant In Haryana After Acquiring 49% Stake In Animaus Energy; Power Purchase Agreement Signed At ₹2.99/kWh

K2 Infragen Ltd has announced the development of a 2 MW solar power plant in Haryana through its associate company, M/s Animaus Energy Pvt. Ltd. The company recently acquired a 49% stake in Animaus Energy, which has already signed a Power Purchase Agreement (PPA) with the Haryana Power Purchase Centre at a tariff of Rs 2.99 per kWh. K2 Infragen plans to eventually make Animaus Energy a wholly owned subsidiary once all regulatory requirements are completed. The company will also be responsible for the full development and execution of this 2 MW solar project.

This initiative aligns with K2 Infragen’s strategy to steadily expand its renewable energy portfolio. The company aims to build strong, annuity-based renewable assets and is preparing to diversify into the Tariff-Based Competitive Bidding (TBCB) model beginning in FY 2026–27. As part of its long-term renewable energy roadmap, K2 Infragen is actively exploring multiple growth opportunities, including mergers and acquisitions, to accelerate its presence in the sector.

Sharing his views on the development, Mr. Vineet Sharma, Vice President – Strategy & Corporate Affairs at K2 Infragen Ltd and Executive Director at Animaus Energy, stated that the company is positioned to create significant value across the renewable energy and TBCB-driven infrastructure segments. He added that K2 Infragen is committed to building a strong base of renewable energy assets, which will support long-term operational stability, generate dependable annuity income, and strengthen shareholder value. He also emphasized that larger solar projects under the Independent Power Producer (IPP) model and competitive bidding frameworks will help the company enhance its asset quality and overall valuation.

K2 Infragen has played an active role in several major infrastructure projects across India. The company has been contributing to national connectivity through significant work under NHAI projects, supporting the development of important road networks across the country. It is also a key participant in the Jal Jeevan Mission, helping strengthen water supply systems and improving access to clean drinking water in various regions. In addition to these focus areas, K2 Infragen has been expanding its presence in Transmission & Distribution (T&D) and Railway infrastructure. During the first half of FY 2025–26, the company submitted direct bids for projects valued at approximately Rs 450 crore, with results expected soon.