Mumbai, 3rd February 2016: Orange Renewable, a 100% subsidiary of AT Holdings Pte Ltd, Singapore, bagged the 100 MW bid at the latest auction by Solar Energy Corporation of India (SECI), the nodal agency for implementation of MNRE schemes for developing grid connected solar power capacity through Variable Gap Funding (VGF) mode in the country.
The scheme is a part of Jawaharlal Nehru National Solar Mission (JNNSM) Phase-II Batch-III to set up grid connected Solar PV Projects in the state of Maharashtra on “Build Own Operate” basis for an aggregate capacity of 500 MW.
Mr. Deepak Mawandia, Chief investment officer and Director-AT Capital Group, said, “It is very encouraging to see that within a short span of 4 months, we have become one of the lead developers in the country. It is a proud moment for us to be shortlisted amongst some of the best known names in the industry. We shall continuously thrive towards providing solar energy solutions in the country and support the government in various policy initiatives.”
Orange Renewable was amongst 14 bidders and won the bid at Rs 4.43 KwH for a 100 MW project.
Headquartered in New Delhi, Orange Renewable is a developer and operator of renewable energy projects. A 100% subsidiary of AT Holdings Pte. Ltd, Singapore, Orange Renewable Power is focused on developing, constructing and operating renewable energy projects in the field of wind and solar across India with presence in Andhra Pradesh, Madhya Pradesh, Maharashtra and Rajasthan.
Headquartered in Singapore, AT Capital Group was founded by Mr. Arvind Tiku. AT Capital Group has an asset portfolio worth approximately US$2.5 billion. Its global portfolio includes investments in residential and commercial real estate, hospitality, natural resources, renewable energy, engineering and construction.
