India, Jan. 9 -- Ravindra Energy Limited (REL) has received 13 Letters of Award (LoAs) from Hubli Electricity Supply Company Limited (HESCOM) for setting up, developing and operating solar power projects with an aggregate capacity of 62 MW (AC) in Karnataka.
The projects, to be executed on a Build, Own and Operate (BOO) basis, will be spread across 13 HESCOM sub-stations within the utility's jurisdiction. HESCOM will enter into 25-year Power Purchase Agreements (PPAs) with REL from the commercial operation date (COD).
According to the company, the average tariff for the projects is Rs 2.95 per unit, and the commissioning timeline is 12 months from the date of signing of the PPA. The projects are expected to involve an estimated capital ex...