Bergamo Harbinsons Energy, a joint venture company with Bergamo Acquisition, has entered into an agreement with Andri Urja of Delhi, India to develop an advanced 5MW Solar Hybrid Thermal Power Plant in India at the net sale price of $21.5m.
Under the agreement, Bergamo Harbinsons will provide all project development, civil construction and site-specific engineering for the project, while a California based solar technology company will be responsible for providing the solar field, power block, balance of plant, and commissioning.
The plant, to be owned by Bergamo Harbinsons, will be capable of generating more than 40gWh of base load power with a solar field yielding a 25% solar capacity factor to provide power for up to 20,000 average homes in India when it becomes operational.
Bergamo Harbinsons will work with Andri Urja to arrange project financing, project performance guarantees, and operational and maintenance services for the plant, which is expected to produce $10m in revenue annually and over $250m in revenue with a 25-year power purchase agreement.
Bergamo Acquisition CEO Hillard Herzog said that the company is excited to have reached this landmark agreement with Andri Urja.
“This project will help pave the path toward broader energy diversification in India, and serve as a showcase project under the ambitious National Solar Mission’s goal of delivering 20,000MW of clean solar energy in India” Herzog said.