Madhya Pradesh I
11. October 2018
Karnataka II
12. March 2019

Karnataka I

Karnataka I is a 40-megawatt solar power plant located in Koppal District in the state of Karnataka and was commissioned in January 2018. It was developed by Delhi-based SolarArise India Projects Pvt Ltd, an innovative operator of grid-connected solar power projects in India. Since fall 2018, ThomasLloyd has been the largest shareholder with a significant stake in SolarArise.

OVERVIEW

  • LOCATION LOCATION India
  • PROJECT SITE PROJECT SITE 721,049 ㎡
  • CAPACITY CAPACITY 40.5 MW
  • INVESTMENT VOLUME INVESTMENT VOLUME (CAPEX) 35 million USD

ESG PROFILE

  • Project site CONSTRUCTION JOBS CREATED
    (average during construction period)
    480
  • Capacity NEW PERMANENT JOBS CREATED 39
  • Reach of electricity supply ELECTRICITY REACH (people) 52,318
  • CO2 reduction CO2 AVOIDED (tonnes p.a.) 58,144

Project Videos

 
 

Impressions of the project

Project details

Project Special Purpose Vehicle (SPV) Talettutayi Solar Projects One Private Limited (“Karnataka I”)
Location Chikkoppa Village, Koppal District, State of Karnataka, India
Coordinates 15.652016° N, 75.992484° E
Technical Specifications Solar irradiation at project site: 1,973.7 kWh/m²/year (SolarGIS)
Grid connection: To an existing 110 kV Yelburga KPTCL substation, 5.5 km away
Fixed tilt mounting structure, using polycrystalline solar PV technology
62,360 modules of rating 325Wp and 62,720 modules of rating 320Wp
Supplier/Manufacturer Solar Modules: JA Solar (China); Solar Inverters: Sungrow (China); Inverter Transformer: Shilchar (India); Power Transformer: Raychem (India); Mounting Systems: NewSol AG (Switzerland); Control Panels: ERL (India), Techno Craft (India); HT Cables: Polycab (India); LT Cables: Polycab (India); String Cable: Lapp (Germany); Junction Boxes: Trinity Touch (United Kingdom)
General Contractor (EPC) Juwi India Renewable Energies Pvt. Ltd.
Operations & Maintenance Juwi India Renewable Energies Pvt. Ltd.
Lender’s Engineer TUV Rheinland (India) Pvt. Ltd.
Electricity Offtake Counterparty Grid Connection Agreement with Karnataka Power Transmission Corporation
Power Purchase Agreement with Solar Energy Corporation of India (SECI)
Credit Rating Electricity Offtake Counterparty ICRA: AA+
Specifications of the Power Purchase Agreement Statutorily guaranteed Tariff fixed rate INR 4.43 (USD 0.07) per kWh, allocated through a reverse auction bidding process. The rate has been set and approved for 25 years by Solar Energy Corporation of India.
Minimum guaranteed revenue in the first full year of operations USD 5.63 million
Third party guarantees additional to the market standard warranties provided by suppliers, manufacturers and EPCs EPC: Unconditional and irrevocable bank guarantee (performance ratio guarantee) with a maturity of 5 years by ANZ Banking Group. Structured as a CFD (contract for difference) which guarantees the difference between contracted revenue and actual energy production of the plant. Solar Modules: 25-year power output warranty provided by JA Solar and underwritten by PowerGuard.
Project Insurance Coverage (amount insured) Industrial All Risks Policy Material Damage – USD 25.9 million Business Interruption – USD 3.8 million
Insurer (coverage ratio) ICICI Lombard General Insurance Company Limited (100%)
Status In full operation since January 2018.

Status: 30/09/2021

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