Hyderabad, July 27 -- Bondada Engineering Limited on Monday announced it has acquired a 60 per cent controlling stake in Onix IPP Private Limited (OIPL), a Special Purpose Vehicle implementing a 225 MW (AC) Solar Photovoltaic Power Project under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, a flagship initiative under Component C of the PM-KUSUM Scheme in Maharashtra.
In a release, the Hyderabad based company said the acquisition marks a significant step in its strategy to expand beyond engineering, procurement and construction (EPC) services into renewable energy asset ownership and independent power production (IPP), creating long-term recurring revenue streams.
The project has already secured a 25-year Power Purchase Agreement (PPA) ...