Insolation Gets 38.43 MW Solar Projects in Rajasthan for ₹134 Cr

Insolation Green Secures Rs. 733.04 Cr Order From KPI Green

Jaipur-based Insolation Energy has recently secured a Letter of Intent (LOI) to develop multiple solar projects in its home state of Rajasthan. The company shared the details about the project in a regulatory filing, which stated, “From these three LOIs, Insolation Energy will develop a combined solar power capacity of 38.43 MW. The final levelized tariff is set at ₹2.880 per unit for seven sites and ₹3.020 per unit for 21 sites.”

The Jaipur-based company would undertake the EPC-related activities along with the Operation & Maintenance (O&M) of the solar projects. It added, “The project is scheduled for completion in the financial year 2025-26 and represents a total investment of approximately ₹134 crores (including GST).”

Insolation Energy also said that the project would be developed under the Renewable Energy Service Company (RESCO) model.  Rajasthan-based company will also undertake the installation of an 11 KVA transmission line under this project. The company said, “This plant would connected with multiple 33/11 KVA substations and integrate a remote monitoring system (RMS) for solar power plants under the PM-KUSUM Scheme – Component A.”

Project Breakdown

Insolation Energy secured the project from Ajmer Vidyut Vitran Nigam Limited (AVVNL) and Jaipur Vidyut Vitran Nigam Limited (JVVNL).  While sharing the details about the project won by Insolation Energy, it said, ” Ajmer Vidyut Vitran Nigam Limited (AVVNL) has awarded Insolation Energy a project covering six sites, with a total plant capacity of 10.43 MW. The final levelized tariff for these sites is set at ₹2.880 per unit.

On the other hand, it also bagged additional projects for 21 sites from AVVNL. According to the shared details by the company in the regulatory filling about the project cost, it told that Insolation Energy will develop solar plants with a total capacity of 28 MW at a final levelized tariff of ₹3.020 per unit. Whereas, Jaipur Vidyut Vitran Nigam Limited (JVVNL) has awarded a separate project for one site with a capacity of 1.43 MW, also at a ₹2.880 per unit tariff.

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PMKUSUM’s component A has hitherto been an underperformer in the scheme whereby solar plants with sizes between 500kW to 2 MW can be set up on land considered suitable for the purpose. These can be what is categorised as waste lands, or even agricultural and where the structures would be raised to enable use of the land for other purposes as well. 2024 has seen a new push to play catch up in this segment , with the original target of 10000MW nationwide unlikely to be met. However, states like Rajasthan where land availability for smaller projects is not an issue, are expected to help add numbers before the deadline for the scheme in 2026.