New Delhi, Insolation Energy on Monday announced securing multiple solar projects totalling 226.45 megawatt entailing an investment of Rs 750 crore under the PM KUSUM scheme.
The orders have been bagged by its wholly-owned subsidiary Insolation Green Energy Pvt Ltd from Jaipur Vidyut Vitran Nigam Limited for 20 sites and Ajmer Vidyut Vitran Nigam Limited for 115 sites, the company informed the exchanges.
"The combined SPV solar power plant shall be 226.45 MW under PM-KUSUM Component A scheme from these LoIs, with the final levelized tariff at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites and Rs 2.60 for 61 sites," the company said.
The projects will be set up with an investment of Rs 750 crore. The company said it will design, survey, supply, install, test, commission, operate and maintain these plants.
The projects are to be executed by 2026–27.
Launched in 2019, Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) was aimed at adding solar capacity of 30,800 MW by 2022 with total central financial support of Rs 34,422 crore, including service charges to the implementing agencies.
Later, the Centre extended the PM-KUSUM scheme till March 2026, as its implementation was significantly affected due to the pandemic.
According to Ministry of New and Renewable Energy, the scheme consists of three components: Component A is for the installation of 10,000 MW of solar capacity by installing small power plants, and Component B is for the installation of 14 lakh standalone solar-powered agriculture pumps. Component C is for the solarisation of 35 lakh grid-connected agriculture pumps.