Madhya Pradesh I
Madhya Pradesh I in Shajapur District in the state of Madhya Pradesh is a 200-megawatt solar power plant scheduled to be operational by fall 2023. 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
2,585,900 ㎡
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CAPACITY
200 MW
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INVESTMENT VOLUME (CAPEX)
78 million USD
ESG PROFILE
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CONSTRUCTION JOBS CREATED
(average during construction period) 1,040 -
NEW PERMANENT JOBS CREATED
105
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ELECTRICITY REACH (people)
264,652
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CO2 AVOIDED (tonnes p.a.)
294,124
UN SDGs (directly supported)
Project details
| Project Special Purpose Vehicle (SPV) | Talettutayi Solar Projects Nine Private Limited (“Madhya Pradesh I”) |
|---|---|
| Location | Surajpur Village, Shajapur District, State of Madhya Pradesh, India Coordinates: 23.227417°, 76.215425° |
| Technical Specifications | Solar irradiation at project site: 1,850 kWh/m²/year (Meteonorm) Grid connection: To a 400 kV PGCIL Pachora substation Fixed tilt mounting structure, using mono PERC solar PV technology |
| Supplier/Manufacturer | TBC |
| General Contractor (EPC) | TBC |
| Operations & Maintenance | TBC |
| Lender’s Engineer | TBC |
| Electricity Offtake Counterparty | Power Purchase Agreement (PPA) with 1. M.P. Power Management Company Limited (MPPMCL) 2. Indian Railways (IR) |
| Credit Rating Electricity Offtake Counterparty | 1. MPPMCL - CARE “A-” 2. Indian Railways – “AAA Sovereign rating”. Indian Railways is a statutory body under the jurisdiction of Ministry of Railways, Government of India that operates India’s national railway system |
| Specifications of the Power Purchase Agreement | Statutorily guaranteed Tariff fixed rate INR 2.339 (USD 0.03) per kWh, allocated through a reverse auction bidding process. The rate has been set and approved for 25 years. |
| Minimum guaranteed revenue in the first full year of operations | USD 9.8 million |
| Third party guarantees additional to the market standard warranties provided by suppliers, manufacturers and EPCs | TBC |
| Project Insurance Coverage (amount insured) | TBC |
| Insurer (coverage ratio) | TBC |
| Status | Commercial operations are expected to start in Q3 2023. |
Status: 30/09/2021
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