India’s Renewable Energy Company, AMPIN Energy Transition, has announced the financial closure for its 200 MW solar-wind hybrid project in Rajasthan. The project is financed through a green loan provided by Standard Chartered. The hybrid project will generate 435 million units (kWh) of renewable energy annually, enough to power approximately 74,486 households. The total investment for the project is valued at INR944 crore (~$113 million), and the generated electricity will be sold to the Solar Energy Corporation of India (SECI) under a 25-year power purchase agreement. The project will be completed within 24 months and adds to AMPIN’s current 410 MW solar portfolio in Rajasthan. This project also scales up AMPIN’s cumulative renewable capacity in the state to 1 GW. This project further supports Standard Chartered’s plan to mobilize $300 billion in sustainable finance by 2030.
AMPIN secures funding for a hybrid project in Rajasthan
AMPIN Energy Transition currently operates a 410 MW solar portfolio in Rajasthan and plans to scale its renewable capacity to 1GW. (Image Credit/Source: LSec/Pixabay)
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