Suzlon Group has formed two separate joint ventures with Canadian Solar and Unisun Energy Group to develop photovoltaic projects totalling 45MW in the Indian state of Telangana.
Canadian Solar and Suzlon will develop two solar 15MW projects at Ramannapet and Kamareddy, scheduled for commissioning in the 2017 financial year.
The Canadian company has acquired a 49% stake in Avighna Solarfarms and Amun Solarfarms, the special purpose vehicles (SPVs) set up by Suzlon to develop the projects.
Ramannapet will supply Telangana Southern Power Distribution Company with electricity, while Kamareddy will deliver power to Telangana Northern Power Distribution Company.
Suzlon will be responsible for commissioning and provide operation and maintenance services for 25 years.
The JV with Unisun Energy Group will build a 15MW solar facility at Bhainsa, also expected to be commissioned in the 2017 financial year.
Unisun Energy has taken a 49% stake in Vayudoot Solarfarms, the SPV established by Suzlon to develop the project, and has an option to acquire the remaining 51%.
Telangana State Northern Power Distribution Company will buy the power generated by the project.
Suzlon will commission the project and provide O&M for 25 years.
Suzlon won 210MW of solar projects in Telangana through a competitive bidding process and signed power purchase agreements in February.
Image: Morgue File