CLP India Picks 49% Stake In Suzlon SPV

In Clean News, News, Renewable Energy, Wind

Hong Kong-based CLP Holdings is one of the largest foreign investors in India’s renewable space and makes investment though its India arm CLP India. It has decided to acquired 49 per cent stake in two of Suzlon’s solar projects in Dhule, Maharashtra.

As per the agreement signed between CLP India and Suzlon Group on September 10, CLP India has agreed to acquire 49 per cent stake in Gale Solarfarms Ltd and Tornado Solarfarms Ltd, two special purpose vehicles (SPV) set up by Suzlon for the above purpose.

CLP India has the option to acquire the balance stake of 51 per cent in these projects, the company added, and Suzlon will continue providing operation and maintenance (OEM) services.

CLP has made its foray into solar energy in 2016 through a similar agreement with Suzlon for its 100 MW project in Veltoor, Telangana. With wind energy, they have been able to grow to almost 1000 MW and are confident of steadily building on their solar energy footprint.

The Power Purchase Agreement (PPA) has a fixed tariff for 25 years at 4.115 per unit for the 20 MW project and 3.66 per unit for the 50 MW with Solar Energy Corporation of India Ltd to off-take the power.

 

 

Reference- CLP India website, The Hindu, Wikipedia

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