US-based Enfinity Global has commissioned 135 MW solar projects in Maharashtra. It also acquired 70 MW operational assets in Telangana and Karnataka.
In a release issued this week, US-based Enfinity Global announced that it has added 205 MW of solar capacity in India through the interconnection of 135 MW projects in the state of Maharashtra and the acquisition of six projects in operation from Rays Power Infra in the states. in Telangana and Karnataka.
This capacity addition marks an important milestone for Enfinity Global, which entered the Indian market last year.
“We will continue to strengthen our presence in the market by developing a hybrid renewable portfolio of about 3 GW as part of our existing pipeline and will continue to acquire operational assets across the segments,” said Sandip Agarwal, Enfinity Global CEO for India. “We are also expanding into other areas of sustainability such as water management, sustainable mobility, hydrogen generation and circular economy.”
Enfinity Global is building and connecting 135 MW of ten different solar power plants in Maharashtra in the first half of 2022. These projects are being built under the Mukhyamantri Saur Krishi Vahini Yojana, which aims to provide daily power of local farmers while contributing to a more sustainable agricultural activity. The power produced will be sold to the Maharashtra State Power Generation Co. (Mahagenco) under a 25-year power purchase agreement (PPA).
“The 250,000 solar panels installed will generate 225 million units of electricity per year, equivalent to lighting 189,000 Indian homes and reducing about 200,000 tons of CO2 emissions, equivalent to the amount absorbed by 9.5 million mature trees,” the company said.
The 70 MW solar power portfolio acquired from Rays Power Infra includes six operational plants in the states of Telangana and Karnataka.
The portfolio acquired in Karnataka includes 47 MW spread over three sites, while the plants acquired in Telangana comprise three other sites with a total of 23 MW. All projects have PPAs signed with state-owned power distribution companies.
The six sites have a total of 226,000 solar panels installed, which generate 108 million units of electricity enough to power 98,352 homes and save 103,000 tons of CO2 emissions, equivalent to planting 4.9 million trees.
Enfinity Global Inc., founded in 2019, focuses on the development, financing, construction, operation, and ownership of renewable energy assets. It will be in India from early 2021, thanks to the merger with Tepsol, a Hyderabad-based solar energy joint venture previously owned by EverStream Energy Capital Management LLC and Think Energy. The company operates renewable energy projects across the states of Telangana, Karnataka, Maharashtra and Uttar Pradesh. Its current portfolio includes a pipeline of over 2 GW of commercial and industrial (C&I) and public utility projects under various stages of development.
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