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Ayana Renewable Power to invest Rs 12,000 cr in two projects in Karna­taka

At present, it has an operational portfolio of 340 megawatt-alternate current (MWAC) in the state, Ayana said in a statement on Wednesday

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The company is among India's fastest-growing renewable energy producers.
Press Trust of India New Delhi
2 min read Last Updated : Jun 09 2022 | 12:47 AM IST

Ayana Renewable Power Pvt Ltd (Ayana) is scaling up its presence in Karnataka by setting up renewable energy projects totaling 2 gigawatts (GWs) with an investment of Rs 12,000 crore.

At present, it has an operational portfolio of 340 megawatt-alternate current (MWAC) in the state, Ayana said in a statement on Wednesday.

"The company has signed an expression of interest with the government of Karnataka to develop wind and solar power projects totaling 2 (GW) capacity with an investment of around Rs 120 billion (Rs 12,000 crore). At present, Ayana has an operational portfolio of 340 megawatt-alternate current (MWAC) in the state," it said.

With the addition of 2 GW of green capacities, the company aims to to provide clean energy for nearly 2 million households.

Karnataka, under its Renewable Energy Policy 2022-27, aims to develop 10 GW of additional renewable energy projects and Ayana is keen to help achieve the target, Shivanand Nimbargi, MD & CEO, Ayana, said.

"Karnataka is a big pull for the renewable energy industry, and we are pleased to have partnered with it to expand the sector further," he said.

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According to the statement, the National Investment and Infrastructure Fund (NIIF) is a majority stakeholder in the Bengaluru-based Ayana. British International Investment and EverSource Capital-managed Green Growth Equity Fund are other shareholders in the company.

The company is among India's fastest-growing renewable energy producers.

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Topics :renewable energysolar power projectsNational Investment and Infrastructure Fund

First Published: Jun 09 2022 | 12:47 AM IST

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