Suzlon has sold minority stakes in two operating solar farms in the state of Maharashtra totalling 70MW to global investor CLP India.
The 50MW and 20MW projects are located in Dhule, with CLP India holding a 49% interest in each special purpose vehicle set-up by Suzlon to develop the plants.
CLP India has an option to acquire the other 51% stakes in the projects in the future.
Suzlon is responsible for operation and maintenance at both PV plants.
CLP India managing director Rajiv Mishra said: “In the last 16 years, we have built one of the most diversified fuel mix portfolios in the country and we are committed to expanding our renewable energy portfolio on the back of supportive government policies.
“With wind energy, we have been able to grow our footprint to almost 1000MW and we are confident of steadily building on our solar energy footprint. We already have two wind energy projects in Maharashtra and we are happy to add another two solar projects here.”
Suzlon Group chief executive JP Chalasani said: “We are glad to partner with CLP India for these two solar projects in Maharashtra.
“We are proud to have also proven our capabilities in solar with the execution of this 70MW solar standalone project.”