KUALA LUMPUR (Nov 3): Yinson Holdings Bhd’s 285MW Nokh Solar Park in Rajasthan, India commenced its operation on Friday.

In a statement on Friday, the group said the solar park had started exporting power to the Rajasthan power grid, aligning with the Indian government’s "national solar mission".

“We are proud to deliver this world-class solar project for India, demonstrating the commitment and solution-driven mindset of the team. This achievement is all the more notable, given the very challenging business environment it was delivered under, including a global economic slowdown following the Covid-19 pandemic, increasing interest rates, extreme supply chain volatility and regulatory changes. 

“The delivery of the Nokh Solar Park further establishes Yinson Renewables' footprint in India, a region of great importance to us, and this demonstrates the resilience and capability of the Rising Sun Energy (K) Pte Ltd team and the commitment of Yinson Renewables. 

“We look forward to contributing to the development of one of the world's fastest-growing economies through the provision of clean and reliable energy,” said Yinson Renewables chief executive officer David Charles Brunt. 

Rising Sun Energy is an indirect subsidiary of Yinson Renewables, a renewables business unit of Yinson.

The 285MW solar project is Yinson Renewables’ largest operating solar project, and its third operational asset in India. It generates enough energy to power about 38,000 Indian households every year, while reducing carbon emissions by approximately 470,000 tonnes of carbon dioxide per year.

Notably, Yinson Renewables also owns and operates the 175MW Bhadla 1 and 2 solar projects, located 33km away, on a straight-line basis, from the Nokh site.

Meanwhile, Rising Sun Energy founder and CEO Arunav Sharma shared that it is committed to India’s energy transition goals and carbon emissions reduction plan. 

“We are confident that we can continue upholding our strong track record of performance in India, where the Bhadla assets have consistently generated more energy than forecast since commissioning. 

“We believe that we are even more strongly positioned now for future opportunities in supporting India’s renewable energy target of achieving 500GW by 2030,” Arunav said. 

Shares in Yinson settled two sen or 0.82% lower at RM2.42 on Friday, giving the group a market capitalisation of RM7.42 billion.