Temasek, EQT Infrastructure JV buys 55-MW solar bundle in India
Solar panels in India's Rajasthan state. Image by: Yinson Holdings Berhad.
Indian renewable energy power producer O2 Power has acquired a 55-MW portfolio of solar parks from domestic panel maker Emmvee Photovoltaic Power, the buyer said earlier this week.
The value of the acquisition was not disclosed.
The acquired portfolio consists of plants located in the states of Karnataka and Telangana, which are selling a portion of their output to state power distribution companies. The remaining part of the generation is used for captive power supplies to Indian pharmaceutical company Dr Reddy’s Laboratories.
O2 Power was set up in 2020 as a joint venture of EQT Infrastructure IV and Singapore’s sovereign wealth fund Temasek Holdings Pvt Ltd. When they established the platform, the partners pledged to invest some USD 500 million (EUR 504m) in the new renewable energy player, targeting more than 4 GW of installed renewable power generating capacity.
O2 Power in June brought online a 250-MW solar park in Rajasthan. The company says it has power purchase agreements (PPAs) in place for about 2 GW of capacity.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.