Diversified business group Eleven has announced plans to invest over Rs 4,700 crore to build a renewable-led electricity distribution network across Gurugram and Nuh districts in Haryana.
The project, chaired by Medanta co-founder Sunil Sachdeva, represents one of the largest private investments ever proposed in the state’s power sector.
The proposed network will be powered predominantly by renewable energy and aims to provide uninterrupted power whilst reducing dependence on diesel generator backup.
Nuh, among Haryana’s most underserved districts, is included in the first phase of the rollout. The capital for the first phase is fully locked in, with equity infused and the complete funding mix of equity and debt in place.
Under the parallel licence model, the existing utility retains its network and consumers, with only those opting for the new supplier moving across.
The proposal has faced opposition from state utilities and political parties, with concerns raised about financial capability and potential revenue impact on public sector distribution companies.
The regulatory commission constituted a three-member independent expert committee to examine the application, with a report expected within 15 days of the panel commencing work on 13 July.
