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					</table><p><a href="https://www.syngeneintl.com/" target="_blank" rel="noopener">Syngene International</a>, an integrated research, development, and manufacturing services company, has entered into an agreement with <a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 </a>Power to procure power from the 100 MW wind project in Karnataka through open access mechanism.</p>
<p>Syngene has acquired an equity stake of 26% in O2 Renewable Energy II, a special purpose vehicle formed by O2 Power. The estimated cost of the acquisition is ₹30 million. The acquisition will be made in one or more tranches.</p>
<p>Incorporated in December 2021, O2 Power is backed by Global investors EQT Infrastructure and Temasek and develops utility-scale renewable energy projects. The company has contracted renewable upto 2 GW with various entities, including Solar Energy Corporation of India, NTPC, NHPC, Gujarat Urja Vikas Nigam, and Rewa Ultra Mega Solar. It also has a 250 MW solar project in Rajasthan, which is operational.</p>
<p>O2 Power is developing a 240 MW wind-solar hybrid project in Karnataka, of which 100 MW is wind and 140 MW is solar. Syngene has agreed to procure power from the 100 MW wind project.</p>
<p>Syngene is an integrated research, development, and manufacturing organization providing scientific services – from early discovery to commercial supply. It offers services in a wide range of industrial sectors, including pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical companies. In July this year, Syngene <u><a href="https://mercomindia.com/syngene-procure-ampyrs-50-mw-open-access-solar/" target="_blank" rel="noopener">signed</a></u> an agreement to acquire a 26% stake in Ampyr Renewable Energy Resources Eleven to procure power from the latter&#8217;s 50 MW open access solar project in Koppal district, Karnataka.</p>
<p>According to Syngene’s annual report, in FY 2021-22, 97% of the energy consumption at its Bangalore SEZ campus came from green energy sources.</p>
<p>A growing number of entities in the commercial and industrial (C&amp;I) segment have been opting to procure renewable energy in the open access mode, given the savings on power bills compared to conventional power tariffs.</p>
<p>The Green Energy Open Access) Rules 2022, <a href="https://mercomindia.com/no-load-limit-energy-open-access-captive-consumers/" target="_blank" rel="noopener">issued</a> by the Ministry of Power, is encouraging  C&amp;I consumers to transition to renewable energy. As per these rules, consumers will be eligible for green energy open access if they have a contracted demand or sanctioned load of 100 kW or more. For captive consumers, there will be no load limitation.</p>
<p>At the C&amp;I Clean Energy Meet 2022 <a href="https://mercomindia.com/open-access-solar-industries-uninterrupted-power/" target="_blank" rel="noopener">hosted</a> by Mercom India in Bengaluru, a panel discussion was organized on how open access renewables have been the most viable option for various sectors needing low-cost power. In the coming months, Mercom plans to <a href="https://mercomindia.com/event/" target="_blank" rel="noopener">host</a> more industry-focused C&amp;I events in Chennai, Coimbatore, Ahmedabad, and Noida.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/vijayalakshmi-sridhar/" class="vcard author" rel="author"><span class="fn">Vijayalakshmi Sridhar</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/07/New-Project-6.jpg" width="77" height="102" /> <a href="https://mercomindia.com/author/vijayalakshmi-sridhar/" target="_blank" rel="noopener">Vijayalakshmi</a> is a staff reporter at MercomIndia.com. She has two decades of experience as an independent journalist and features writer, and her work is featured across various publications and genres such as business, food, and clean energy. <a href="https://mercomindia.com/author/vijayalakshmi-sridhar/" target="_blank" rel="noopener">More articles from Vijayalakshmi</a>.</p>
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Syngene to Procure Power from O2 Power’s Wind Project in Karnataka


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					</table><p><a href="https://www.syngeneintl.com/" target="_blank" rel="noopener">Syngene International</a>, an integrated research, development, and manufacturing services company has signed an agreement to acquire a 26% stake in <a href="https://www.ampyrenergy.com/">Ampyr</a> Renewable Energy Resources Eleven to procure power from the open access solar project in Koppal district, Karnataka.</p>
<p>The estimated acquisition cost is ₹32 million (~$401,956).</p>
<p>Ampyr Renewable Energy Resources Eleven is a special purpose vehicle (SPV) of Ampyr India Asset Holdings to generate and supply solar power.</p>
<p>The captive solar project under the acquisition will be commissioned in one or more tranches.</p>
<p>Ampyr is developing the 50 MW solar project in Benkanhal village of Kanakagiri taluk in the Koppal district of Karnataka.</p>
<p>According to the company’s ESG report, during 2020-21, 82% of electricity was procured from renewable energy sources delivering a reduction in greenhouse gas emissions of approximately 53,280 tons from operations compared to the previous year.</p>
<p>Commercial and industrial (C&amp;I) entities are in constant pursuit of energy sources that are clean, green, and also lower in cost compared to the grid power tariffs. With several emerging models, there is a renewed interest in going solar by large C&amp;I entities and micro, small and medium enterprises alike.</p>
<p>For industrial consumers, captive solar projects are a viable option as manufacturing units have poor quality or small roofs on which to install solar systems, which may allow them to meet only 10-15% of their energy needs.</p>
<p>The Ministry of Power recently <a href="https://mercomindia.com/no-load-limit-energy-open-access-captive-consumers/" target="_blank" rel="noopener">issued</a> the Green Energy Open Access Rules, which can catalyze the transition of small-scale industries, commercial entities, and large households to renewable energy. As per the new regulations, consumers will be eligible for green energy open access if they have a contracted demand and sanctioned load of 100 kW or more. For captive consumers, there will be no load limitation.</p>
<p>Mercom is hosting the <a href="https://mercomindia.com/event/solar-summit-2022/register/" target="_blank" rel="noopener">Mercom India Solar Summit 2022</a> in Delhi on July 28 and 29, 2022. On July 29, the summit will have a session ‘Commercial and Industrial Sector Going Solar – Potential Market, Policies and Opportunities,’ where panelists will share views on how C&amp;I entities can benefit from adopting solar energy.</p>
<p>Mercom India also <a href="https://mercomindia.com/open-access-solar-industries-uninterrupted-power/" target="_blank" rel="noopener">hosted</a> the C&amp;I Clean Energy Meet 2022 in Bengaluru to discuss how open access renewables have been the most viable option for various sectors needing low-cost power.</p>
<p>Mercom plans to <a href="https://mercomindia.com/event/" target="_blank" rel="noopener">host</a> more industry-focused C&amp;I events in Pune, Chennai, Coimbatore, Ahmedabad, and Noida.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Syngene to Procure Power from Ampyr’s 50 MW Open Access Solar Project in Karnataka

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