Suzlon Group and CLP India have formed a joint venture to develop the 100MW Veltoor solar project in Telangana in India.
As part of the agreement, CLP has acquired a 49% stake in SE Solar, a special purpose vehicle set up by Suzlon, with an option to increase the interest to 51%.
The solar farm is expected to be commissioned in May 2017 and will be funded by 80% debt and 20% equity, Suzlon said.
Electricity from the facility will be bought by Telangana Southern Power Distribution Company under a 25-year power purchase agreement.
The project is one of six totalling 210MW that Suzlon won through a competitive bidding process in Telangana.
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Partnership with CLP India to develop Veltoor project in Telangana
By EBS