CLP likely to enter Indian solar market with purchase of 100 MW of solar power project from Suzlon

CLP India is reportedly in talk with wind energy giant Suzlon to buy 100MW of PV projects. Early this year in January Suzlon made its maiden entry into the solar space winning tender for 210 MW of projects in the state of Telangana. The 210 MW of project includes one project of 100 MW, one of 50 MW and four of 15 MW each.

CLP’s Indian subsidiary is negotiating the deal with Suzlon which is planning to develop the plants before selling them on to energy companies. This business model of the company is similar to the one it has for its wind farms in the country. Suzlon is expected to commission the PV project in Y 2016-17 in Telangana.

Hong Kong based Energy Company CLP is among the larger foreign investors in the Indian power sector, its interest in the solar space is undoubtedly an encouraging sign for the solar industry in the country that is expected to grow rapidly coming years.

Last month Suzlon Energy Ltd announced that it has acquired five solar energy companies for an undisclosed sum to help implement various renewable energy projects across the country.

The firm informed BSE in a regulatory filing that it has acquired Gale Solarfarms, Tornado Solarfarms, Abha Solarfarms, Aalok Solarfarms and Shreyas Solarfarms to implement various renewable energy projects across the country, including the recently won solar projects in Maharashtra of 70 MW.