FRV

FRV

FRV

FRV is an operational 100 MW solar asset located in high radiation zone in the 400 MW Ananthapuram Solar Park in Andhra Pradesh with a contractual period of 25 years at a fixed tariff. The Power Purchase Agreement (PPA) has been signed with SECI on October 16, 2016 at a fixed tariff for 25 years of project life with Solar Energy Corporation of India (“SECI”), a limited liability company owned 100% by the Government of India, as the counterparty. These superior quality projects use Tier I equipment and are eligible to receive a fixed tariff on per unit of electricity generatedthus limiting the operational risk. The projects have been operational for more than 2 years and have a robust track record of collections with a healthy plant availability of 99.0% and grid availability of >99.8% since inception. We completed acquisition of 100% stake in two solar assets with cumulative capacity of 100 MW (AC) from Fotowatio Renewable Ventures (FRV) at an enterprise value of ~INR 6.60 Billion in July 2021.

Details of the FRV transmission lines are set forth as follows:

Element Location Specifications Actual commission date Expiry of term of the TSA
Project P2Ananthapuram Solar Park,
District Kadapa, AP
AC capacity: 50 MW;
DC capacity: 68 MWp
July 201825 years from declared COD date
Project P8 Ananthapuram Solar Park,District Kadapa, AP
District Kadapa, AP
AC capacity: 50 MW;
DC capacity: 70 MWp
Jan 2019s 25 years from declared COD date