RattanIndia Group won solar power project of 50MW in Allahabad, Uttar Pradesh through its solar subsidiary RattanIndia Solar Ltd.
RattanIndia had won the project in reverse e-auction conducted by Solar Energy Corporation Limited (SECI) at a tariff of Rs 4.43 per Kwh on the viability gap funding of Rs 75 lakh per MW.
According to the statement, This 50 MW solar power project is a part of combined capacity of 440 MW as various locations in Uttar Pradesh.
Unlike the previous project of 100MW won by Adani and azure power, the land for the project will be provided by Uttar Pradesh.
“RattanIndia has solar projects of more than 240 MW spread across various states of India. All of our solar farms have fully acquired land. Majority of the solar power produced by our projects is being sold to central government entities like NTPC and SECI thus eliminating the risk of payments,” CEO of RattanIndia Solar, Anjali Rattan Nashier said.