ENGIE has commissioning of a 200 MWAC (290 MWp) solar power project at the Raghanesda solar power park, in Raghanesda, Gujarat.
The project will generate around 546 GWh of electricity as well as reduce 387,056 tons of carbon dioxide emissions annually. The project was won under a tender process run by Gujarat Urja Vikas Nigam Limited (GUVNL) and the power purchase agreement for 25 years was signed in August 2019 with GUVNL. Debt for the project has been secured under a long-term project financing arrangement with the Asian Development Bank and Société Générale S.A., the French multinational investment bank. The project has been implemented through Electro Solaire Private Limited, a special purpose vehicle owned by the ENGIE Group.