Refex Renewables & Infrastructure announced today its arm Refex Green Power has incorporated a new company, Refex Solar SPV Five, to set up a 100 MW solar power project awarded by NTPC Ltd.
“Refex Solar SPV Five Limited is incorporated with the objective of setting-up of a 100-MW Solar Power Project, awarded by NTPC Limited, a Maharatna company and accordingly, shall be solar power developer for 100MW capacity,” stated the company.
NTPC will enter into a power purchase agreement (PPA) with SPV Five for purchase of power for a period of 25 years. The project is scheduled for commissioning within 24 months from the effective date of the PPA.
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