Amplus Solar Acquires 17 Rooftop Solar Projects From Sterling and Wilson

Amplus Solar has announced the acquisition of 17 on-site operational rooftop solar projects from Sterling and Wilson, totalling 7.2 MWp.

Amplus Solar, one of Asia’s leading distributed solar energy companies, has announced the acquisition of 17 on-site operational rooftop solar projects from Sterling and Wilson Private Limited’s totalling 7.2 MWp. 

Spread over Haryana, Punjab, Madhya Pradesh, Rajasthan, Maharashtra, Telangana and Karnataka, these 17 projects have been supplying solar power to 13 leading Industrial, Commercial, and Institutional customers. The latest acquisition further augments Amplus’ existing portfolio of 800+ MWp catering to a 200+ C&I customer base. 

“The addition of these assets to our portfolio furthers our commitment to promote the growth of renewable energy in India and provide outstanding service to our ever-increasing customer base. We remain open to the acquisition of assets that meet our standards and add Amplus’ operational excellence to these assets” said Sanjeev Aggarwal, CEO & MD of Amplus Solar.

Amplus Solar, which provides low carbon solutions to Industrial and Commercial customers through both on-site solar projects (rooftop and ground-mounted) and off-site solar farms is a member of PETRONAS Group.

In September 2020, Amplus, under the PETRONAS brand, had moved to acquire 100 MW of solar assets owned by ACME Solar. The reported price for the deal is USD 110 million, or almost Rs 800 crore. For the Manoj Upadhyay-led ACME Solar, the deal followed its successful closure of a deal to sell 400 MW of operating solar assets to Actis Capital. As a homegrown player, the firm was reported to be feeling the pressure of the slowdown more than most, due to its aggressive bids through 2017 and 2018, when it won multiple projects with record low prices between Rs 2.44 to Rs 2.56 per unit. The firm is reported to have a project portfolio of close to 5 GW, including projects under development.

The acquisition also follows closely behind the announcement made by Radiance Renewables, a player in the competitive renewable energy solutions for commercial, industrial and residential customers, to have reached an agreement to acquire the solar rooftop assets of Azure Power for Rs 536.5 crore covering 152.5 MW- including 8.1 MW of under construction and 18.5 MW of recently commissioned assets. Amplus Rooftop Solar of Sterling and Wilson

PC: Amplus Solar