Karnataka II
Karnataka II is a 27-megawatt solar power plant located in Koppal District in the state of Karnataka and was commissioned in August 2019. It was developed by Delhi-based SolarArise India Projects Pvt Ltd, an innovative operator of grid-connected solar power projects in India. ThomasLloyd has been a major shareholder in SolarArise since fall 2018.
OVERVIEW
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LOCATION
India
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PROJECT SITE
484,328 ㎡
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CAPACITY
27 MW
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INVESTMENT VOLUME (CAPEX)
13.8 million USD
ESG PROFILE
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CONSTRUCTION JOBS CREATED
(average during construction period) 320 -
NEW PERMANENT JOBS CREATED
24
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ELECTRICITY REACH (people)
36,589
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CO2 AVOIDED (tonnes p.a.)
40,664
UN SDGs (directly supported)
Project Videos
Project details
| Project Special Purpose Vehicle (SPV) | Talettutayi Solar Projects Two Private Limited („Karnataka II“) |
|---|---|
| Location | Kerehalli Village, Koppal District, State of Karnataka, India Coordinates 15.371604° N, 76.307229° E |
| Technical Specifications | Solar irradiation at project site: 2,026 kWh/m²/year (SolarGIS) Grid connection: To an existing 110 kV Kerehalli KPTCL substation, 2 km away Fixed tilt mounting structure, using polycrystalline solar PV technology 29,295 modules of rating 325Wp and 53,136 modules of rating 330Wp |
| Supplier/Manufacturer | Solar Modules: JA Solar (China), Solar Inverters: TBEA (China), Inverter Transformer: Shilchar (India), Power Transformer: Voltamp (India), Mounting Systems: Ganges Internationale, Control Panels: TBD, HT Cables: Apar Industries Ltd. (India), LT Cables: Apar Industries Ltd. (India), String Cable: Apar Industries Ltd. (India), Junction Boxes: Trinity Touch (United Kingdom) |
| General Contractor (EPC) | Jakson Limited |
| Operations & Maintenance | Jakson Limited (5 years) |
| Lender’s Engineer | TUV Rheinland (India) Pvt. Ltd. |
| Electricity Offtake Counterparty | Grid Connection Agreement with Karnataka Power Transmission Corporation Power Purchase Agreement with Bangalore Electricity Supply Company (BESCOM) |
| Credit Rating Electricity Offtake Counterparty | ICRA: A |
| Specifications of the Power Purchase Agreement | Statutorily guaranteed Tariff fixed rate INR 3.04 (USD 0.04) per kWh, allocated through a reverse auction bidding process. The rate has been set and approved for 25 years by Karnataka Electricity Regulatory Commission. |
| Minimum guaranteed revenue in the first full year of operations | USD 2.04 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 ICICI Bank. 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 9.8 million Business Interruption – USD 1.7 million |
| Insurer (coverage ratio) | ICICI Lombard General Insurance Company Limited (100%) |
| Status | In full operation since August 2019. |
Status: 30/09/2021
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