Carbon Minus Secures 904 MW Solar Projects under MSKVY 2.0 in Maharashtra

Carbon Minus Secures 904 MW Solar Projects under MSKVY 2.0 in Maharashtra

Carbon Minus has recently confirmed the successful award of two significant solar projects under the Maharashtra State Government’s “Mukhyamantri Solar Krishi Vikas Yojana 2.0” (MSKVY 2.0). This initiative marks a significant milestone in the state’s commitment to renewable energy and sustainable development. The objective of this scheme is to solarize 30% of feeders by 2025. For this, 7,000 MW decentralized solar projects will be implemented. With this, farmers will be able to get electricity during the day.

The awarded projects include 174 MW solar power projects in Turnkey-EPC mode with Maharashtra State Power Generation Company Limited (MahaGenco-MSPGCL) and another 730 MW project with Maharashtra State Electricity Distribution Company Limited (MSEDCL). These projects are set to play a crucial role in enhancing the state’s renewable energy capacity and supporting the transition to cleaner energy sources.

“We are honoured and humbled to partner with MahaGenco-MSPGCL and MSEDCL on these landmark solar projects,” said Pankaj Choudhary (Founder and Director). “These projects not only demonstrate our commitment to advancing solar energy in Maharashtra but also contribute significantly to the state’s environmental goals and energy security.” He added.

The 174 MW project will leverage innovative technologies to provide reliable and efficient solar power, supporting local communities and contributing to the state’s agricultural sector. Meanwhile, the 730 MW project is expected to deliver substantial energy savings and reduce carbon emissions, furthering Maharashtra’s vision for a sustainable energy future.

Both projects align with the government’s broader strategy under MSKVY 2.0, which aims to promote solar energy usage among farmers and enhance their livelihoods through green energy solutions.

Carbon Minus is dedicated to driving progress in the renewable energy sector and is committed to fostering sustainable practices that benefit both the environment and local communities. The total order value is estimated at about 3960 Crore, which is surely a testament to the firm’s commitment to cross Rs 5000 Crore turnover by its 5th year founding anniversary.

These solar projects are expected to be developed in multiple phases over the 12-18 months. Upon completion, the project will produce enough renewable energy to power over 500,000 homes annually, helping to mitigate approximately 1.2 million tons of CO2 emissions each year. The initiative is also expected to create thousands of direct and indirect job opportunities, from project construction to long-term operations and maintenance roles. Carbon Minus also affirms its commitments to strengthening local communities by offering by offering local jobs, contributing to community common infrastructures like local roads, schools, and skill centres.

We will focus on using state-of-the-art solar technology and high-quality engineering practices to maximize efficiency and minimize environmental impact. The company also remains committed to fostering strong local partnerships, ensuring community engagement, and contributing to the region’s socioeconomic development.” Says Ashok Kumar, Co-founder & Director, overseeing the project development.

About Carbon Minus 

Carbon Minus is an emerging leader in renewable energy solutions, specializing in solar power, wind energy, and energy storage technologies. The company is committed to accelerating the global transition to sustainable, low-carbon energy systems. Through its cutting-edge technologies and strategic partnerships, Carbon Minus is driving the development of large-scale renewable energy projects across India and internationally. The company’s mission is to reduce carbon footprints and empower communities through affordable, reliable, and clean energy. The company was founded in 2021 by Pankaj Choudhary and Ashok Kumar, an alumnus of IIM Calcutta and IIT Madras, respectively.

For any enquiry, please email us on: info@carbonminus.in

Axllo Green Energy Secures $66M Funding for 20 CBG Plants in South India

Axllo Green Energy Secures $66M Funding for 20 CBG Plants in South India

Axllo Green Energy Private Limited (AGEPL) is poised for a significant leap in the renewable energy sector, securing full funding for 20 Compressed Biogas (CBG) plants across South India. A United Kingdom-based investment firm M/s Climate Capital Technolgy Limited, London, has committed an impressive $66M (around 560 Crores INR) for the erection, commissioning, and operation of these plants, each with a capacity of 5 TPD (Tonnes Per Day).

The first plant, located near Bagalkot, Karnataka, is set to be commissioned on Axllo’s 5-acre land plot. The plant will process Pressmud and Napier Grass as feedstock to produce 5,000 kgs of Compressed Biogas daily. In addition to biogas, the plant will generate valuable by-products such as 32 tonnes of solid manure per day and carbon credits, contributing to environmental sustainability and carbon emission reductions.

The UK-based financing company views this partnership as a key entry into the Indian market, with a primary focus on transacting carbon credits in the international market. Carbon credits are projected to have substantial financial potential, offering promising returns on investment while supporting global carbon reduction efforts.

Commenting on the investment, the CEO of the UK-based financing firm, Climate Capital Technology Limited, Mr. Douglas Prentice, said, “We will work closely with the Axllo team to ensure a smooth transition of funds in alignment with the project’s milestones. We believe this partnership will significantly contribute to India’s renewable energy goals and global efforts towards sustainable energy solutions.”

AGEPL’s CEO and Managing Director, Mr. Sadanand M. Banagar, emphasized the importance of the project beyond its financial value, stating, “Beyond the lucrative financial returns, we are committed to supporting green initiatives that align with our mission to drive sustainability and combat climate change. The significant reduction in carbon emissions and the promotion of renewable energy in rural areas make this project particularly compelling for us.”

This collaboration marks a milestone in Axllo Green Energy’s journey towards a greener and more sustainable energy future, positioning it as a key player in India’s renewable energy landscape.

Contact : Mr. Basavaraj KJ

Media Liason

+91-93800 08946

info@axllo.com

Adani Group’s wind power project in Sri Lanka expected to be completed by December 2024, says Energy Minister Kanchana Wijesekara

Adani Group’s wind power project in Sri Lanka expected to be completed by December 2024, says Energy Minister Kanchana Wijesekara

India’s Adani Group is making significant progress in its renewable energy project in Sri Lanka’s north and eastern regions. According to Energy Minister Kanchana Wijesekara, the project aims to generate 500 MW of power and is set to be completed by December of next year.

Minister Wijesekara took to Twitter to share updates on the project’s advancement. He stated that he recently met with Anil Sardana, the Managing Director and CEO of Adani Transmission Ltd, along with the project management team. During their meeting, they discussed the challenges, road map, and timeline for the project’s completion. Wijesekara expressed satisfaction with Adani Green Energy’s commitment to finishing the project by December 2024.

This meeting marked the first review since February, highlighting the ongoing monitoring and evaluation of the project’s progress.

In August of the previous year, the Adani Group received approval to initiate wind power projects in Pooneryn, located in Sri Lanka’s northeast region. Adani Green Energy was granted provisional approval for two wind projects, one in Mannar with a capacity of 286 MW and another in Pooneryn with a capacity of 234 MW. These projects require an investment of over USD 500 million. It’s worth noting that the Adani Group’s engagement in Sri Lanka’s energy sector goes beyond their investments in the Western container terminal of Colombo’s port.

Gautam Adani, the chief of the Adani Group, had a meeting with former President Gotabaya Rajapaksa in October 2021 to discuss further investment opportunities in Sri Lanka. This meeting took place after the Adani Group signed a deal to develop the western container terminal of the Colombo port during President Rajapaksa’s tenure.