Telangana II
10. October 2018
Madhya Pradesh I
11. October 2018

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

  • LOCATION LOCATION India
  • PROJECT SITE PROJECT SITE 1,239,654 ㎡
  • CAPACITY CAPACITY 67,2 MW
  • INVESTMENT VOLUME INVESTMENT VOLUME (CAPEX) 60.3 million USD

ESG PROFILE

  • Project site CONSTRUCTION JOBS CREATED
    (average during construction period)
    700
  • Capacity NEW PERMANENT JOBS CREATED 104
  • Reach of electricity supply ELECTRICITY REACH (people) 95,861
  • CO2 reduction CO2 AVOIDED (tonnes p.a.) 106,536

Project Videos

 
 

Impressions of the project

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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