Project Description
The project is to develop, construct, own and operate a 24MWp greenfield solar PV power plant (“the Project”). The Project is being executed as a joint venture between SunEdison Energy Holding (Singapore) Pte. Ltd (“SingCo”) an IFC investee and Astronergy Solar Korea Co. Ltd. (“ASK”) a subsidiary of Chint Solar (Zhejiang) Co., Ltd, a CHINT Group company. The Project was competitively awarded under the second batch of first phase of India’s Jawaharlal Nehru National Solar Mission (“JNNSM”).
The total output of the Project will be sold to the state owned power trading company, NTPC Vidyut Vyapar Nigam Ltd, (“NVVN” or the “Offtaker”), under a year 25 PPA signed on January 2012. NVVN is a wholly owned subsidiary of NTPC Ltd - the largest Indian state-owned generator of thermal power based in New Delhi. The deadline for commissioning is February 2013.