IBC Solar has completed a 27MW solar plant near Kesinga in the Indian state of Odisha.
IBC Solar's project is part of a 270MW PV tender floated by SECI in the state of Odisha in August 2016. As a result, a 25-year Power Purchase Agreement (PPA) was awarded to IBC Solar through a competitive auction process. Project financing was concluded with L&T Infrastructure Finance Company Limited in March 2017. Following the securement of 111 acres of land in August 2017, the local electric power transformation substation had to be upgraded to manage the soon-to-be generated energy, a transmission line for approx. 8 km was built and construction of the solar plant then started in November 2017.
"With this project, we have consolidated a strong know-how in project development, land securitisation and grid connection in Odisha, a state with a high potential for solar PV build-up", says José María Llopis, CEO of IBC Solar Energy GmbH.