New Delhi: Ayana Renewable Power Pvt Ltd (Ayana) is scaling up its presence in Karnataka by setting up renewable energy projects totalling 2 gigawatts (GWs) with an investment of Rs 12,000 crore.

At present, it has an operational portfolio of 340 megawatt-alternate current (MWAC) in the state, Ayana said in a statement on Wednesday.

"The company has signed an expression of interest with the government of Karnataka to develop wind and solar power projects totalling 2 (GW) capacity with an investment of around Rs 120 billion (Rs 12,000 crore). At present, Ayana has an operational portfolio of 340 megawatt-alternate current (MWAC) in the state," it said.

With the addition of 2 GW of green capacities, the company aims to provide clean energy for nearly 2 million households.

Karnataka, under its Renewable Energy Policy 2022-27, aims to develop 10 GW of additional renewable energy projects and Ayana is keen to help achieve the target, Shivanand Nimbargi, MD & CEO, Ayana, said.

"Karnataka is a big pull for the renewable energy industry, and we are pleased to have partnered with it to expand the sector further," he said.

According to the statement, the National Investment and Infrastructure Fund (NIIF) is a majority stakeholder in the Bengaluru-based Ayana. British International Investment and EverSource Capital-managed Green Growth Equity Fund are other shareholders in the company.

The company is among India's fastest-growing renewable energy producers.

(With PTI inputs)

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