Ayana Renewable closes deal to buy 250 MW solar energy plant from ACME – BusinessLine
Ayana Renewable Power Private Limited (Ayana), a renewable energy platform majority controlled by National Investment and Infrastructure Fund (NIIF) has closed the deal to buy 100 per cent stake in 250 MW Solar PV power plant from ACME Solar Holdings Private Limited (ACME).
With this transaction, Ayana is now developing and managing close to 3 GW of renewable energy.
Ayana has acquired the solar energy renewable plant located in Jodhpur, as part of its strategic goal to increase renewable energy production in the country.
The plant is connected to the inter-state transmission system and supplies power to Maharashtra State Electricity Distribution Company Ltd (MSEDCL) under a long-term Power Purchase Agreement (PPA). This further adds to Ayana’s high-quality portfolio of renewable energy assets built organically and inorganically to create value for its stakeholders, Ayana Renewable said in a statement.
Shivanand Nimbargi, MD and CEO, Ayana, commented, “In line with our aspiration to be India’s leading renewable energy player, we will continue to pursue acquisition opportunities at scale over the next few years”.
Ayana’s strategic objectives are aligned with the UN Sustainable Development Goals of providing affordable and clean energy, creating economic opportunities through growth and climate action. The company is committed to support local communities living and working in its development locations, reduce global carbon emissions to net-zero by 2070, build green energy capacity, decarbonise the energy mix away from coal and support job creation which is vital to India’s long-term economic development, Ayana Renewable said.