Advertisement
Advertisement
advertisement

OPG Power Ventures invests in 62 MW Indian solar projects

OPG Power Ventures Plc said its board has approved a GBP-45-million investment in four solar projects totalling 62 MW in the Indian state of Karnataka.

 

The London-listed company, which has 750 MW of operating thermal power assets in India, said the projects were secured in a competitive bidding process. OPG Power Ventures has signed 25-year power purchase agreements (PPAs) with Karnataka Power Corporation at an average tariff of INR 5 per kWh. 

It expects to meet its targeted return levels without subsidies. All four project should be generating cash flow by June 2017.The company has set a target of building at least 300 MW of solar projects in India in the next three years. It says the solar segment is attractive due to the falling costs and improving performance of solar panels, as well as improving project financing conditions.

Advertisement
Advertisement

UPCOMING EVENTS

SolarQuarter Tweets

Follow Us For Latest Tweets

SolarQuarter Tamilnadu Solar Rooftop State Awards 2019. Nominate Now! - https://t.co/2A1JnE5QMP
About 3 hours ago
SolarQuarter Tender Tracker: Insights Into 1200 MW SECI Auction Results ISTS IV https://t.co/qluWEzZDgg Solarquarter… https://t.co/FAtyZ57rla
Friday, 14 June 2019 11:20
SolarQuarter Auction Results: 1200MW ISTS Connected Solar PV Projects (ISTS-IV) Solarquarter tendertracker solar auction… https://t.co/7IDgiG8AZr
Friday, 14 June 2019 10:57