24 Aug 2022
O2 Power Acquires Solar Power Plants in Karnataka and Telengana
O2 Power Pvt Ltd Press Release Dated 24th August, 2022
O2 Power, a renewable energy Independent Power Producer (IPP) in India founded in November 2019, announces the acquisition of a portfolio of solar power plants from Bangalore-based solar panel manufacturer, Emmvee Photovoltaic Power Pvt. Ltd.
The plants are in the state of Karnataka and Telangana and have an aggregate installed capacity of 55-megawatt, part of which supplies power to state discoms, while the balance capacity supplies captive power to Dr. Reddy’s Laboratories, one of India’s biggest multinational pharmaceutical companies.
"The Emmvee acquisition marks our foray not only into Karnataka and Telangana but also marks the beginning of our relationship with Dr Reddy’s. We are excited about this portfolio and are looking forward to the development of an expanding relationship with Dr Reddy’s. We will continue to work towards strengthening our C&I and utility pipeline through a mix of solar, wind and hybrid projects," said Peeyush Mohit, founder and chief operating officer of O2 Power.
O2 Power, backed by global investors EQT Infrastructure and Temasek, is one of the fastest growing renewable platforms in India with signed PPAs of about 2 GW in aggregate, and a commissioned 250 MW solar project in Jaisalmer, Rajasthan.