Yes Bank, which has been focussing on funding green energy projects in India, also announced that it will mobilise USD one billion by 2023 for financing solar energy projects in India and USD five billion till 2030.
It has has signed an MoU with India’s leading bank Yes Bank for a strategic tie-up to co-finance projects in the solar energy sector in India. The total projects capacity under the partnership of Amplus Energy Solutions and Yes Bank is expected to be up to 1,000 MW.
The partnership with Yes Bank is a perfect match for solar projects in India as Amplus can provide installation, operational and maintenance expertise and Yes Bank can fund eligible projects, it provides a 360 degree offering for firms looking to install solar plants.
The agreement was signed at International Solar Alliance pavilion at the World Future Energy Summit, Abu Dhabi.
The Gurgaon-based Amplus is also diversifying in new avenues such as battery storage, energy efficiencies, smart cities, and concentrated solar power technologies among others.