Ayana Renewable acquires two solar power assets of First Solar in Karnataka

Ayana Renewable Power on Tuesday said it has acquired 100 per cent equity stake in two First Solar-developed photovoltaic (PV) solar power plants in Karnataka for an undisclosed amount. The total capacity of these plants is megawatts (MW), the company said in a statement.

“The 100 per cent acquisition of the two projects, located in Karnataka, is part of its strategic mission to deliver high-quality projects organically and inorganically, to create value for its shareholders,” it said.

India InfraDebt financed the acquisition, the company said.

The two facilities, which are powered by First Solar’s high-performance thin film modules and have been operational for more than two years, are connected to Karnataka’s 110KV transmission network, it added.

Under 25-year power purchase agreements, the plants supply energy to two of the state’s electricity distribution companies – Chamundeshwari Electricity Supply Corporation and Gulbarga Electricity Supply Company.

ET Energy World
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