27 MW Solar PV Plant in Karnataka commences Commercial Operations
London, Zurich, 18 September 2019. ThomasLloyd announced today that its' investee company SolarArise India Projects Private Limited ("SolarArise") has commissioned a 27 Megawatt ("MW") Solar PV plant in Kerehalli village, Koppal District, State of Karnataka, India on 8 August 2019.
The new solar plant operates under Talettutayi Solar Projects Two Private Limited, a special purpose vehicle (SPV) set up by SolarArise, and has a 25 year Power Purchase Agreement ("PPA") with the Bangalore Electricity Supply Company Limited (BESCOM), an ICRA - "A" rated government off taker. The plant is expected to generate approximately 47 million kilowatt-hours per year of clean energy in Karnataka State.
For ThomasLloyd, Nandita Sahgal Tully, Managing Director Merchant Banking, said: "Commissioning of the site is a major milestone towards providing clean electricity to around 42,000 people in the Karnataka region. We are proud to have been part of this project supporting India's goals for a clean-energy future."
For Management, Founder and Director, Mr. Anil Nayar, said: "Our experienced teams worked closely with our contractors allowing us to commission this project three months prior to the deadline. As long-term project owners, our teams continue to learn and improve through each project to deliver on-time and quality projects."
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About SolarArise India Projects Private Limited
SolarArise is an Indian focused project developer which develops, owns and operates grid-connected solar PV projects in India. The company was founded by James Abraham, Anil Nayar and Tanya Singhal in 2014 backed by GEEREF, CIIF and ThomasLloyd Group. Together they have significant experience in technology R&D, policy advocacy, execution, regulatory liaising, financing and operations of solar assets. For more information, visit: www.solararise.com.
About ThomasLloyd Group
ThomasLloyd is a global investment and advisory firm dedicated to leading the necessary process for social and environmental change, focusing exclusively on the financing, construction and operation of sustainable projects in the infrastructure, agriculture and property sectors. The range of services comprises products and services through the entire value chain of these sectors. In addition to the structuring, placement and management of impact investing solutions, they include consulting and financing of projects and companies, as well as digital financial services, particularly in investment brokerage, investment advisory and asset management. Founded in 2003, ThomasLloyd is now one of the world's leading impact investors and providers of climate financing. Headquartered in Zurich and with over 250 employees in 17 locations in North America, Europe and Asia, the company currently manages assets of over 3.2 billion Euros for more than 60,000 private and institutional investors. For more information, visit: www.thomas-lloyd.com.