Ayana Renewable plans Rs 12000 crore investment in Karnataka
Ayana Renewable to invest Rs 12000 crore for capacity addition through wind and solar projects in Karnataka, enough to provide clean energy for nearly 2 million households, according to the company statement.
Ayana Renewable Power Private Limited (Ayana), backed by the National Investment and Infrastructure Fund (NIIF), has signed an expression of interest with the Government of Karnataka for renewable energy project development in the state.
The company plans to develop wind and solar power projects totaling 2 gigawatts (GW) in Karnataka with an investment of around Rs 12000 crore. According to the company, this capacity addition will be adequate to deliver renewable energy to approximately 2 million households.
Ayana, MD & CEO, Shivanand Nimbargi stated that Karnataka is an important market for renewable energy, and Ayana is delighted to have partnered with the state to expand the sector ahead.
“The State intends to develop 10GW of additional renewable energy projects under its Renewable Energy Policy 2022-27. Ayana is eager to assist it in achieving that goal, creating an attractive and sustainable environment for clean and green energy development,” he added.
In South Asia, Ayana Renewable Power is constructing utility-scale wind, solar, and hybrid energy projects. The firm intends to create a portfolio of 10 GWAC (Government wide acquisition contracts) by 2025.
Currently, Ayana operates a 340 megawatt alternative current (MWAC) portfolio in the state.
