Sunkind Energy Secures Solar Projects in Punjab, Maharashtra

Sunkind Energy Secures 20 MW Solar Projects in Punjab, Maharashtra

Gurugram-based solar EPC company Sunkind Energy has secured new solar power projects with a capacity of around 20 megawatts (MW).

The contracts have been awarded by Nahar Group and Jindal Group, the company said in a statement on August 5, 2024. Sunkind stated that it will set up a capacity of 7.3 MW in Ludhiana, Punjab, for captive purposes for Nahar Group, and a 12.6 MW captive solar project for Jindal Group in Nashik, Maharashtra. Both projects will be set up in engineering, procurement, and construction (EPC) mode.

The company aims to complete these contracts by September 2024, according to Sunkind Energy Founder and CEO Hanish Gupta. However, the company did not provide any financial details of the projects.

Gurugram-based Sunkind Energy is an emerging EPC solar company in the country, with a total order book of 52 MW solar projects in various stages of implementation. According to industry estimates, 1 MW of solar projects involves an investment of around Rs 5-7 crore, including land costs.

Sunkind has been transitioning towards a utility-scale developer model, aiming to invest in long-term power purchase agreements (PPAs) and utility-scale projects. This strategy aims at improved business viability and faster returns on investment compared to traditional EPC contracting.

Earlier this year in May, Sunkind secured five solar rooftop projects with a total capacity of 10 MW in Punjab, Haryana, Rajasthan, and Chhattisgarh.