CLP India – CleanTechies

Canadian Solar Enters Indian Solar Power Market

written by saurabh

One of the largest solar power companies in the world, Canadian Solar, has entered one of the fastest growing solar power markets – India.

Listed at Bombay Stock Exchange, Suzlon Energy recently reported that it sold 49% equity stake each in two solar power projects to Canadian Solar. The projects, each with 15 MW installed capacity, are located in the southern state of Telangana.

Suzlon Energy also sold 49% stake in another 15 MW solar power project to Shanghai-based Unisun Energy. Both, Canadian Solar and Unisun Energy, shall have the right to acquire the balance 51% stake in the projects.

Canadian Solar acquired the equity stake through its Singapore-based arm. It shall also be responsible for arranging debt funding for the projects. The projects are expected to be commissioned in the next financial year.

Suzlon Energy secured rights to develop solar power projects in Telangana through competitive auction. The company shall develop a total of 210 MW capacity – one project each of capacity 100 MW and 50 MW and four projects of 15 MW capacity each.

Earlier this year, the company also sold 49% stake in the 100 MW project to CLP India. Suzlon Energy is likely to construct, commission, operate and maintain the power project. CLP India will have the option to fully buyout Suzlon’s stake after 1 year of project commissioning.

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October 24, 2016 0 comment

Articles Renewable Energy

CLP India Enters Solar Power Market Through Joint Venture With Suzlon Energy

written by saurabh

CLP India, after long presence in the conventional power market, has finally entered the most rapidly growing renewable energy market in India.

Suzlon Energy, one of the leading renewable energy companies in India, recently confirmed sale of 49% stake in a 100 MW solar power project to CLP India. The project is located in the southern state of Telangana and was secured by a special purpose vehicle of Suzlon Energy – SE Solar – through competitive bidding.

Suzlon Energy is likely to construct, commission, operate and maintain the power project. CLP India will have the option to fully buyout Suzlon’s stake after 1 year of project commissioning.

Suzlon Energy emerged as one of the largest successful bidder in what was India’s single largest solar power tender. State authorities in the southern Indian state of Telangana announced results of the 2 GW solar power tender in August last year, wherein Suzlon Energy secured 210 MW capacity in the competitive auction.

Apart from the 100 MW project, Suzlon Energy will also set up a project of 50 MW and 4 projects of 15 MW capacity each.

Power generated from the 100 MW project will be sold through a 25-year power purchase agreement to Telangana Southern Power Distribution Company Limited at a tariff of Rs 5.59/kWh (US¢8.4/kWh).

CLP India owns almost 2 GW of thermal power projects in India and an additional 1 GW wind energy capacity. The company has also signed an agreement with the state government of Haryana to set up 132 MW solar power project one of its thermal power projects.

Photo courtesy of vectoropenstock.com for CleanTechies

June 27, 2016 0 comment