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
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LOCATION
India
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PROJECT SITE
721,049 ㎡
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CAPACITY
40.5 MW
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INVESTMENT VOLUME (CAPEX)
35 million USD
ESG PROFILE
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CONSTRUCTION JOBS CREATED
(average during construction period) 480 -
NEW PERMANENT JOBS CREATED
39
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ELECTRICITY REACH (people)
52,318
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CO2 AVOIDED (tonnes p.a.)
58,144
UN SDGs (directly supported)
Project Videos
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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