Refex Green Power Incorporates SPV to Set Up 100 MW Solar Project
Refex Renewables and Infrastructure Ltd.'s subsidiary, Refex Green Power Ltd., has established Refex Solar SPV Five to develop a 100 MW solar power project awarded by NTPC, with an estimated cost of INR 480 crore.
December 07, 2024. By Mrinmoy Dey
“Refex Solar SPV Five Ltd. is incorporated with the objective of setting-up of a 100-MW Solar Power Project, awarded by NTPC Limited, a Maharatna company and accordingly, shall be solar power developer for 100 MW capacity,” shared the company in an exchange filing.
It further added that NTPC will enter into a power purchase agreement (PPA) with SPV Five for the purchase of power for a period of 25 years.
In October 2024, Refex Green won this 100 MW capacity in NTPC's 1.2 GW ISTS-connected solar auction at a tariff of INR 2.50 per kWh. The project requires the company to use solar modules listed under List-I of the Ministry of New and Renewable Energy’s Approved List of Models and Manufacturers (ALMM).
That same month, Refex Green entered into a joint venture with Winvision Enterprises to focus on wind energy solutions, including manufacturing and assembling wind turbine generators and components, with a 75.5 percent ownership stake.
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