Andhra Pradesh approves 200 MW solar park by Yashaswa Power

The Government of Andhra Pradesh has approved a 200 MW AC/300 MWp DC solar power park to be developed by Yashaswa Power LLP, a group company of Clean Max Enviro Energy Solutions Pvt Ltd, which is launching a Rs 3,100-crore mainboard initial public offering (IPO).

The project involves an investment of Rs 1,200 crore and will be set up at Beechiganipalle and nearby villages in Parigi Mandal of Sri Sathya Sai district. The facility is expected to produce about 445 million units of clean electricity each year and generate nearly 690 direct and indirect employment opportunities.

The solar park will be developed across around 1,200 acres of largely private land. It will be connected to the 400/220 kV Andhra Pradesh Transmission Corporation Limited (APTRANSCO) Hindupur substation, supporting grid stability and long-term power evacuation.  

Clean Max Enviro Energy Solutions is launching a Rs 3,100-crore mainboard IPO scheduled to open from February 23-25. The issue includes a fresh issue of Rs 1,200 crore and an offer for sale (OFS) of Rs 1,900 crore by existing shareholders.

The price band for the IPO is Rs 1,000-1,053 per share, with listing planned on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in early March. The issue has received anchor investment from institutional participants including Temasek Holdings and SBI Life Insurance.