The venture is with AMP solar for the Telangana-based project.
Suzlon Group, one of the leading renewable energy solutions providers in the world, announced a joint venture with the AMP Solar for the development and construction of a 15MW Solar PV Project located at Achampet, Mahaboobnagar District, Telangana.
According to the contract signed between Suzlon Group and the AMP Solar on December 21, 2016, the AMP Solar shall acquire a 49% stake in Rudra Solarfarms Limited, a special purpose vehicle (SPV) set-up by Suzlon for executing this project.
AMP Solar has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations.
The off-taker of the SPV project will be the Telangana State Southern Power Distribution Company Limited (TSSPDCL). Suzlon will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years.
The project is expected to be commissioned in the financial year 2017 (FY17). Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the PPAs for the same were signed in February, 2016.
These include one project of 100 MW, one of 50MW and four projects of 15 MW each.
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