Renewable energy firm Suzlon Group today announced a joint venture with AMP Solar for development and construction of a 15-MW solar PV project at Achampet, Mahaboobnagar district in Telangana.
According to the contract signed on December 21, 2016, AMP Solar shall acquire a 49 per cent stake in Rudra Solarfarms Ltd, a special purpose vehicle (SPV) set-up by Suzlon for executing this project, Suzlon Group said in a statement.
AMP Solar has the option to acquire the balance of the 51 per cent stake in the SPV in the future in accordance with the relevant rules and regulations.
The offtaker of the SPV project will be the Telangana State Southern Power Distribution Company Limited (TSSPDCL).
Suzlon will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years, it said.
The project is expected to be commissioned in financial year 2017, it added.
Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the PPAs for the same were signed in February, 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each.
AMP Solar (India) CEO Pinaki Bhattacharyya said, "This partnership has been yet another step towards our vision. We are happy to be associated with Suzlon and shall work in synergy towards our common goal of reducing and bringing the carbon footprint down."
Suzlon Group CEO J P Chalasani said, "For Suzlon, this project is a contribution towards our commitment for reducing the carbon footprint and transitioning of renewables from alternate to mainstream source of energy. We look forward to work collaboratively with AMP Solar and contribute towards promoting green energy.
Disclaimer: No Business Standard Journalist was involved in creation of this content
