PVV Infra Ltd has secured two major solar power contracts worth Rs 799 crore in Uttar Pradesh, reinforcing its presence in the clean energy sector and setting the stage for sustainable long-term growth.
Key Solar Projects in Uttar Pradesh
PVV EVTech Pvt Ltd, a subsidiary of PVV Infra Ltd, has entered into a 25-year Power Purchase Agreement (PPA) with the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for a 100 MW solar power project located in Baghpat and Moradabad districts. This joint venture with Nacof Oorja Pvt Ltd involves an estimated project cost of Rs 384 crore and is projected to generate Rs 53 crore in annual revenue.
Additionally, another group subsidiary, PVV Housing Pvt Ltd, has been awarded an EPC contract for a 109 MW solar project in the same areas, also in collaboration with Nacof Oorja Pvt Ltd. The project’s value is approximately Rs 415 crore.
Strategic Growth via SPV Model
In a significant strategic decision, PVV Infra’s Board of Directors has approved an expansion strategy in the renewable energy sector through the Special Purpose Vehicle (SPV) model. This approach enables each subsidiary to concentrate on distinct geographies and business segments, such as power development and EPC, thereby improving operational efficiency and minimizing risks.
Reaffirming Commitment to Clean Energy
These initiatives showcase PVV Infra’s long-term vision to expand its footprint in the clean energy sector. By integrating its project development and EPC strengths, the company aims to make a substantial contribution to India’s renewable energy targets and establish itself as a key player in the solar power industry.
