Maharashtra I
Maharashtra I, located in Beed District in the state of Maharashtra, is a 67-megawatt solar power plant commissioned in August 2017. 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
1,239,654 ㎡
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CAPACITY
67,2 MW
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INVESTMENT VOLUME (CAPEX)
60.3 million USD
ESG PROFILE
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CONSTRUCTION JOBS CREATED
(average during construction period) 700 -
NEW PERMANENT JOBS CREATED
104
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ELECTRICITY REACH (people)
95,861
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CO2 AVOIDED (tonnes p.a.)
106,536
UN SDGs (directly supported)
Project Videos
Project details
| Project Special Purpose Vehicle (SPV) | Talettutayi Solar Projects Four Private Limited (“Maharashtra I”) |
|---|---|
| Location | Chatgaon Village, Beed District, State of Maharashtra, India Coordinates: 18.961683° N, 76.212849° E |
| Technical Specifications | Solar irradiation at project site: 1,954 kWh/m²/year (SolarGIS) Grid connection: To an existing 132 kV Talegaon MSETCL substation, 5.5 km away Part of the plant uses a seasonal tracking system with the remaining using a horizontal single axis tracking system, using polycrystalline solar PV technology 102,241 modules of rating 325Wp and 104,774 modules of rating 320Wp |
| Supplier/Manufacturer | Solar Modules: JA Solar (China); Solar Inverters: Sungrow (China); Inverter Transformer: Sudhir (India); Power Transformer: Voltamp (India); Horizontal Single Axis Tracker: Arctech Solar (China); Mounting Systems: Arctech Solar (China), Tata (India); Control Panels: Ashida (India), Symatic (India); HT Cables: Polycab (India); LT Cables: Polycab (India); String Cable: Uniflex Cable Unicab (India); Junction Boxes: Trinity Touch (United Kingdom) |
| General Contractor (EPC) | Tata Power Solar Systems Pvt. Ltd. |
| Operations & Maintenance | Tata Power Solar Systems Pvt. Ltd. |
| Lender’s Engineer | TUV Rheinland (India) Pvt. Ltd. |
| Electricity Offtake Counterparty | Grid Connection Agreement with Maharashtra State Electricity Distribution Company Limited 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 9.9 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 the State Bank of India. 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 42 million Business Interruption – USD 6.6 million |
| Insurer (coverage ratio) | ICICI Lombard General Insurance Company Limited (70%) & HDFC ERGO General Insurance Company (30%) |
| Status | In full operation since August 2017. |
Status: 30/09/2021
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