Sep 11: CLP India, one of the largest foreign investors in the Indian power sector, and Suzlon, India’s largest renewable energy solutions provider, on Tuesday announced a joint venture for two solar projects of 50 MW and 20 MW in Dhule, Maharashtra.
As per the agreement signed between CLP India and Suzlon Group on 10th September, 2018, CLP India has agreed to acquire 49% stake in Gale Solarfarms Ltd and Tornado Solarfarms Ltd, two special purpose vehicles (SPV) set‐up by Suzlon. CLP India has the option to acquire the balance 51% stake in the future. Suzlon is responsible to provide comprehensive operation and maintenance services for these projects that are already commissioned.
Commenting on the development, Mahesh Makhija, Director, Business Development and Commercial (Renewables), CLP India, said, “we have a long‐standing association with Suzlon for both our wind and solar projects. We made our foray into solar energy with them for a 100 MW project in Veltoor. This project was recently awarded world’s first solar project quality certification, having exhibited the highest quality standards. We are confident that we will be able to continue driving operational excellence across all our projects.”
J P Chalasani, Group CEO, Suzlon Group, said, “we are glad to partner with CLP India for these two solar projects in Maharashtra. We have commissioned a total of 340 MW solar projects including this and completed delivery of our entire solar order book.”