Resolven Secures 200 MW Wind Project Contract from SECI

Key Takeaways

Resolven wins a 200 MW wind project from SECI at a competitive tariff of Rs 3.85/kWh.
The project, set for completion by June 2028, will be developed in Karnataka under a 25-year Power Purchase Agreement.
Resolven’s operational and awarded capacities now total 3.7 GW, bolstering its growth in renewable energy.

Project Details

Resolven, an independent power producer, has secured a significant milestone by winning a 200 megawatt wind project from the state-owned Solar Energy Corporation of India (SECI). The project comes as part of a broader 2,000 MW wind tender and has been awarded at a competitive levelised tariff of Rs 3.85 per kilowatt-hour (kWh). This tariff reflects Resolven’s commitment to maintaining cost efficiency while developing renewable energy resources.

The wind project is linked to the Inter-State Transmission System (ISTS) and is set to be constructed in Karnataka. A Power Purchase Agreement (PPA) for this project has been signed for a duration of 25 years, with an expected commissioning date by June 2028.

Resolven’s CEO, Parag Sharma, emphasized the company’s financial strength and strategic planning. “Backed by EQT’s growth capital, we have the balance sheet strength and risk appetite to bid without compromising on tariff discipline or bankability,” he stated. This approach has allowed Resolven to secure multiple wind project contracts with central Renewable Energy Implementing Agencies (REIAs) in a relatively short time frame, showcasing the effectiveness of their strategic initiatives.

Expanding Capacity

With this addition, Resolven’s development pipeline now stands at an impressive 1.8 gigawatts (GW) under construction. The company has also been awarded a total capacity of 2.7 GW, with operational capacity reaching 1 GWp. This robust portfolio positions Resolven as a significant player in the renewable energy sector in India.

The renewable energy landscape in India is rapidly evolving, with various companies actively seeking opportunities to expand their operations. Resolven’s recent achievements reflect a broader trend in the industry, where competitive bidding and strategic resource management are crucial for long-term growth.

Overall, the successful bid for the Karnataka wind project positions Resolven favorably within the context of India’s renewable energy goals, aligning with the country’s commitment to increasing clean energy production and reducing reliance on fossil fuels. The proactive measures taken by Resolven and its partnerships with financial backing illustrate a focused approach to sustainable development.

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