Downing delivers 20MW of open access solar in South India

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
the 11.2MWp Kambadur project. Credit: Downing

UK investor Downing, working with its investment partner Armstrong Energy Global, has developed and constructed 20MW of ‘open access’ solar projects in the South Indian states of Telangana and Andhra Pradesh.

The two completed projects required a combined total of £13.5 million funding support from the Downing Indian Solar EIS, which is backed by UK retail investors, and other Downing-managed funds. Commercial and industrial customers will buy the power generated from the farms via ‘open access’ power purchase agreements (PPAs).

Downing Indian Solar EIS and Downing-managed Venture Capital Trusts provided £7.2 million of funding to the SPV, SF Renewables, to support the construction of the 11.2MW Kambadur solar farm in Andhra Pradesh.

Meanwhile, Downing Indian Solar EIS, Downing Estate Planning Service and Downing-managed VCTs also invested £6.25 million in the SPV, Rockhopper Renewables, for the construction of the 8.4MW Jogipet solar farm in Telangana, northwest of Hyderabad.

Downing and Armstrong have procured Indian EPCs to build the plants and Armstrong is now operating these plants on behalf of Downing.

Downing-managed funds are also currently supporting another 22MW of PV projects in Maharashtra.

Jonathan Selwyn, chairman, Downing Indian Solar EIS, said: “The Indian solar market is growing rapidly and naturally holds huge potential for investors due to the tropical climate in areas such as the south. However, as a relatively new market, it is not without its challenges. It is therefore a testament to the Downing and Armstrong teams that these challenges have been successfully overcome, that the projects have been commissioned on time and are already generating significant amounts of power.

“Downing Indian Solar EIS is also supporting the construction of a further two projects in the country which will be commissioned in early summer. We will assess further investment opportunities in due course.”

German solar and storage firm IBC Solar recently completed a 3MW 'open access' solar project for a tea producer in the Indian state of Tamil Nadu.

Read Next

PV Tech Premium
April 8, 2021
After a challenging year, India’s solar sector stands primed for something of a rebound. But a host of familiar issues, from the perilous state of DISCOMs to regulatory uncertainty, run the risk of stymying future growth. Vinay Rustagi, managing director at consultancy Bridge to India, talks to PV Tech about the future prospects for Indian solar.
April 8, 2021
Tata Power Solar has expanded its PV manufacturing facility in Bengaluru, India, taking the total production capacity of modules and cells to 1.1GW.
April 1, 2021
Norwegian independent power producer Scatec is looking to collaborate with project developers in India as part of efforts to gain a foothold in the country’s burgeoning solar sector.
PV Tech Premium
March 26, 2021
Solar developers have welcomed clarification on India’s new import duties for modules and cells that will come into effect next year, but questions have been raised about the ability of domestic manufacturers to ramp up production to meet rising demand.
March 23, 2021
Scatec has unveiled a NOK 100 billion (US$11.7 billion) plan that will see the company expand its renewables portfolio to 15GW over the next four years.
March 19, 2021
Indian PV developer Adani Green Energy has raised a US$1.35 billion debt package to initially support the construction of a 1.69GW hybrid portfolio of solar and wind projects in the state of Rajasthan.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET