Indian energy company Azure Power has signed an expression of interest (EoI) with the state government of Karnataka to develop renewable energy projects with 1.7GW of combined capacity.
The company expressed an interest in building solar, wind and hybrid energy projects in the state, which is located in India’s southern region.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
It plans to invest a total of Rs133bn ($1.7bn) to develop the projects.
Azure Power chief financial officer Pawan Kumar Agrawal said: “We are extremely pleased to sign the EoI with the Government of Karnataka.
“The state has been at the forefront of clean energy adoption and has one of the highest installed renewable energy capacities in the country.
“This EoI strengthens our commitment to developing high performing grid-scale renewable energy assets in the state and contributing towards India’s decarbonisation journey.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAt present, Azure Power owns nearly 2.9GW worth of renewable energy assets across India and has established a ‘significant’ presence in the state of Karnataka.
In a separate development, excavation works for the Nuclear Power Corporation of India’s (NPCIL) Kaiga 5&6 project at Kaiga, Karnataka, have begun.
The 5&6 reactors are the first two of the ten indigenous 700MW Pressurised Heavy Water Reactors, which will be installed at the site after they were approved by the Government of India.
Upon the completion of Kaiga 5&6, the Kaiga site’s capacity will be increased to more than 2.2GW.
The site currently has an installed capacity of 880MW, which includes the four units KGS 1&2 (2X220 MW) and KGS 3&4 (2X220MW).
Last month, the Indian government unveiled plans to build ten nuclear power plants in ‘fleet mode’ over the next three years.
NDTV reported that the nuclear power facilities will be developed over a period of five years from the first pour of concrete (FPC), which will take place at the Kaiga facility.
