Axis Energy Ventures commissions 445-MW solar plant in Rajasthan

Axis Energy Ventures India on Saturday said it has commissioned a 445 MW solar plant in partnership with Brookfield Renewables in Rajasthan.

In a statement, Axis Energy Ventures India Private Limited said the project is part of the joint venture platform 'ABC Renewables' -- signed with Brookfield Renewables -- to set up a 5 gigawatt (GW) large utility renewable energy portfolio in India.

"Under ABC Renewables platform, Axis Energy and Brookfield Renewable (have) commissioned 445 MW solar project in a record time of 6 months in Jodhpur, Rajasthan," the statement said.

The company did not give any financial details of the project.

According to industry estimates, to set up every 1 MW of solar capacity, an investment of over 4.5 crore is required.

The project is expected to avoid 6 lakh tonnes of CO2 emissions per year or the equivalent of planting 24 million trees while generating 800 GWh (gigawatt hour) of clean energy annually, the company said.

K Ravi Kumar Reddy, Chairman and Managing Director, Axis Energy said, "The platform has showcased immense success and takes pride in commissioning the project that brings environmentally-friendly objectives which the country awaits. We further hope and contemplate to take up projects that will be best of contributions to the environment".

Hyderabad-based Axis Energy is a decade-old developer of wind and solar projects.