The company said the estimated investment on the project is expected to be Rs 5 billion and it will be one of the largest open access solar energy projects in the state.
Renewable energy power producer AMP Energy India has commenced the construction of 120 MWp open access solar power project in the state of Uttar Pradesh (UP).
The company said that the estimated investment on the project is expected to be Rs 5 billion and it will be one of the largest open access solar energy projects in the state.
Moreover, the company had signed long-term Power Purchase Agreements (PPAs) for the same for a period of 15-25 years, it added.
AMP Energy India had won this project under the Uttar Pradesh Power Transmission Corporation Ltd’s (UPPTCL’s) tender for setting up of 340 MW open access power projects under UP Solar Policy, 2017.
The solar energy power producer said that the project is likely to be commissioned in the current financial year in a phased manner, as it is spread across five places of four districts in UP. However, the company did not disclose the names of the four districts and its exact locations.
Once completed, the project will supply power to high credit worthy Commercial & Industrial (C&I) energy users and is expected to generate approximately 1,100 to 1,300 jobs in construction, safety and Operations & Maintenance (O&M) across all locations.
On higher expectations for UP to become an attractive destination for investment, AMP Energy India CEO Pinaki Bhattacharyya said, “we are setting up one of the largest portfolios of projects across four districts in UP. It will bring with itself local development as well as lowering power costs for some major industries, which will make the state – a more attractive investment destination.”
Post completion, the project will have its economic, social, environmental and other benefits too including job creation for the local community; leased lands will provide long term income to farmers; setting up of Clean Water ATMs and microgrids nearby installations to provide local community with regular power; it will reduce CO2 emissions of 41,40,000 MT which is equivalent to planting approx. 24 lakh trees over the complete lifecycle of the plant.
AMP Energy India is one of the fastest growing integrated renewable energy power producers in the country and is focused upon delivering clean and green energy to C&I customers. With a total portfolio of about 450+ MW and presence across 15 states, the company is providing bespoke solutions to its 40+ leading corporates and govt. bodies. It is backed by global institutional investors and has a diversified client portfolio such as Tata Hitachi, Hero Cycles, Hewlett Packard, AB InBev, ACE Cranes, Britannia, L&T Metro Hyderabad Rail, Kochi Metro Rail Ltd among others.