The investment amounts to around $48.8m.
Adani has commissioned 50 MW of solar projects in Mahoba in Uttar Pradesh. The projects were developed under the Jawaharlal Nehru National Solar Mission (JNNSM), according to Mercom Capital Group.
The project was developed with an investment of Rs.3.15 billion (~$48.8 million), the Adani Group stated in a release. The entire capacity comprises five projects of 10 MW each. The project is the first in Uttar Pradesh to be equipped with string inverter technology, which allows for miniature level control of solar power generation.
Here's more from Mercom Capital Group:
The power generated will be evacuated to Uttar Pradesh Transmission Corporation Limited (UPTCL).
According to Mercom’s India Solar Project Tracker, under the Phase II, Batch 2 of National Solar Mission in Uttar Pradesh, 100 MW of solar were tendered by NTPC in August of 2015. Adani and Azure both won bids to develop 50 MW each by quoting Rs.4.78 (~$0.074)/kWh.
According to Mercom’s India Solar Project Tracker, Adani has around 840 MW of solar projects in operation and ~1.2 GW of solar projects under development. In Mercom’s latest quarterly report on India’s solar market, Adani was ranked third in terms of project in-operation and first in terms of project pipeline.
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