CLP India, Suzlon Join Hands for 2 Solar Projects in Maharashtra

As per the deal, CLP India has agreed to acquire 49 percent stake in Gale Solarfarms and Tornado Solarfarms, two special purpose vehicles (SPV) set-up by Suzlon.

Foreign investor CLP India and renewable energy solutions provider Suzlon has inked a joint venture pact for two solar projects of 50 MW and 20 MW in Dhule, Maharashtra.

As per the deal, CLP India has agreed to acquire 49 percent stake in Gale Solarfarms and Tornado Solarfarms, two special purpose vehicles (SPV) set-up by Suzlon.

Moreover, CLP India has the option to acquire the balance 51 percent stake in the future.

Besides, Suzlon is responsible to provide comprehensive operation and maintenance services for these projects that are already commissioned.

Commenting on the development, CLP India, Managing Director, Rajiv Mishra said, “In the last 16 years, we have built one of the most diversified fuel mix portfolios in the country and we are committed to expanding our renewable energy portfolio on the back of supportive government policies. With wind energy, we have been able to grow our footprint to almost 1000 MWs and we are confident of steadily building on our solar energy footprint. We already have two wind energy projects in Maharashtra and we are happy to add another two solar projects here.”

While J.P. Chalasani, Group CEO, Suzlon Group said, “We have commissioned a total of 340 MW solar projects including this and completed delivery of our entire solar order book. We are committed to partner with our customers to enable India’s transition to a low carbon economy. With our expertise now both in wind and solar, we are progressively working towards harnessing the emerging opportunities in Wind-Solar Hybrid. Our pan-India presence, comprehensive product portfolio, robust in-house R&D and best-in-class services gives us the competitive edge.”