Vena Energy reaches financial close on 176MW solar-wind hybrid project in India

Facebook
Twitter
LinkedIn
Reddit
Email
The Gudadur Hybrid Project will be operational in Q4 2023. Image: Vena Energy.

Renewable energy company Vena Energy has reached financial close on a 176MW solar and wind project in India.

Located in Karnataka state, the Gudadur Hybrid Project comprises 48MW of solar and 128MW of wind and is expected to be operational in the fourth quarter of 2023.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“The Gudadur Hybrid Project combines the benefits of solar and wind energy to increase power system efficiency and reduce the need for grid expansion,” said Nitin Apte, CEO of Vena Energy.

Apte added that by co-locating solar and wind generation systems, the project is a solution to reducing carbon emissions and levelised cost of energy.

According to Vena Energy, the project is its first green project financing arrangement in India. Mandated lead arrangers include HSBC, BNP Paribas, Mizuho Bank, Sumitomo Mitsui Bank Corporation and Axis Bank.

“The Gudadur Hybrid Project further builds on Vena Energy’s portfolio of renewable assets. Assets like the Gudadur Hybrid Project will be key in meeting India’s goal of 50% of the country’s electricity generated by renewables by 2030,” said Ramakrishna Pataballa, managing director and head of project finance and debt advisory Asia at BNP Paribas.

Last October, the company also closed funding for stage one of the 125MW Wandoan South PV project, which is co-located with energy storage. The project, located in the Western Downs area of Queensland, Australia, will be capable of producing 365GWh of energy annually. That announcement came after Vena inaugurated a 100MW battery energy storage system in the same location in August.

Read Next

October 6, 2025
Indian infrastructure company focused on rooftop and ground-based solar power installations, PVV Infra has secured solar power orders worth INR7.9 billion (US$90 million) through two of its subsidiaries. 
October 6, 2025
Indian solar developer ACME Group has established a new subsidiary to manage its renewable equipment manufacturing business, under which it is planning to scale production of TOPCon PV modules.
October 6, 2025
Rajasthan government will develop 500MW/2,000MWh of standalone battery energy storage systems (BESS) with a four-hour single-cycle configuration and extended operational life.
October 2, 2025
The Indian solar industry has 86GW and 182GW of solar cell and module manufacturing capacity, respectively, expected to be commissioned by 2027.
October 2, 2025
The Indian Department of Commerce has launched an antidumping investigation on solar encapsulants originating or exported from South Korea, Vietnam and Thailand.
September 30, 2025
SynergyRED, a wholly owned subsidiary of Synergy, has submitted a development application for a 2GW hybrid renewable energy project in Western Australia's Mid-West Region.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland