BALCO Inks Agreement with SRIPL to Source 105 MW Hybrid Renewable Power
Under the agreement, the project will be financed as a 70 and 30 debt to equity basis and BALCO will own 26 per cent equity in the SPV.
April 05, 2023. By EI News Network
BALCO has signed a Power Delivery Agreement (PDA) with SRIPL to generate 105 MW hybrid renewable power for its aluminium operations through Special Purpose Vehicle (SPV).
Under the agreement, the project will be financed as a 70 and 30 debt to equity basis and BALCO will own 26 per cent equity in the SPV.
The hybrid energy project will be constructed on a governed model and build own operate basis. The time period of the PDA is of 25 years from the date of commencement of the project.
The SPV is anticipated to begin serving and distributing the power within the time of 24 months of the PDA signing.
BALCO was started in the year 1965 as the first Public Sector Undertaking (PSU) in India. Bharat Aluminium Company Limited (BALCO) is a sub division of Vedanta Limited.
Serentica targets to give renewable energy with the combination of solar, wind, energy storage and balancing solutions. Resultantly, it aims to serve and deliver more than 15 billion units of clean energy per year and displace 20 million tonnes of carbon emissions.
please contact: contact@energetica-india.net.
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