Suzlon Partners with AMP Solar for 15 MW Solar Project in Telangana

Suzlon Group has partnered with the AMP Solar for the development and construction of a 15 MW Solar PV Project located at Achampet, Mahaboobnagar District, Telangana.

Under agreement signed between Suzlon Group and the AMP Solar on December 21, 2016, the AMP Solar shall acquire a 49% stake in Rudra Solarfarms Limited, a special purpose vehicle (SPV) set-up by Suzlon for executing this project. AMP Solar has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off-taker 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. The project is expected to be commissioned in the financial year 2017 (FY17).

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.

Pinaki Bhattacharyya, CEO, AMP Solar (India), said, “Our vision is to become the leading global solar energy platform by creating geographically focused, structured portfolios of assets that have attractive risk-adjusted return profiles. And this partnership has been yet another step towards our vision. Indian market is presently booming for the renewable industry and this shall be beneficial to our investors and stakeholders. 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.”

J.P. Chalasani, Group CEO, Suzlon, said, “The global renewable energy sector is witnessing a huge momentum. We are glad to partner with AMP Solar. 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.”