DA Surya Shakti has signed a PPA with Mittal Processors Private Limited (MPPL), for 10 MW of solar photovoltaic (PV) energy in India!
Maharashtra, January 20, 2012 /India PRwire/ — DA Surya Shakti Services Private Limited (DASSSPL), announced that it has signed a power Offtake agreement (PPA) with Mittal Processors Private Limited (MPPL), for 10 MW of solar photovoltaic (PV) energy. The project is the first independent PV project developed by DASSSPL, referred to as Project “SURYAVATH” registered under the wholly owned subsidiary Multi Sun Power Private Limited. The project will be located and commissioned in Pokhran, Rajasthan – India.
DASSSPL will develop, own and operate the solar project with MPPL offtaking the power generated under a 15 year PPA, with another option for 10 years making it a 25 year PPA. Construction is anticipated to begin this year and commercial operation is expected within 3 months, subject to timely completion of the interconnection. The project will generate approximately 17, 00,000 annual units of energy production.
MPPL will have a further right of refusal to offtake the balance and sign additional PPA on similar terms of the complete 50MW SURYAVATH project. MPPL will also have the first right of refusal to secure PPA for all future renewable projects of 450MW which are in planning stages.
“We are pleased to partner with MPPL in support of their renewable energy growth plan,” said Danish Lambe, Managing Director of DASSSPL. While DASSSPL is fairly new Greenfield Company, it has attracted global interest in their project. Developing projects in a cost-effective way and with an acceptable tariff, is vital for us to further expand our solar activity in a meaningful way.
In addition to development in Rajsthan, DASSSPL will expand its presence in other sources of renewable energy fields,. where it expects to move from the regulatory process to the project development stage for an additional 500 MW of solar PV power generation.