Suzlon Group, one of the leading renewable energy solutions providers in the world, today announced a joint venture with the Unisun Energy Group for the development and construction of a 15 MW Solar PV Project located at Bhainsa, Adilabad District, Telangana.
According to the contract signed between Suzlon Group and the Unisun Energy Group on August 22, 2016, the Unisun Energy Group shall acquire a 49% stake in Vayudoot Solarfarms Limited, a special purpose vehicle (SPV) set-up by Suzlon for executing this project. Unisun Energy 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 Vayudoot project will be the Telangana State Northern Power Distribution Company Limited (TSNPDCL). 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 50 MW and four projects of 15 MW each.
Peng Hao, CEO, Unisun Energy Group, said, “India is an attractive destination for investment in renewable and solar offers immense opportunities. We are evaluating projects that will be value-enhancing for our stakeholders, whilst being attractive for our customers. We believe that India has a favourable solar policy, which creates a conducive environment for us. We have partnered with Suzlon given their reliable project execution capabilities.”
J.P. Chalasani, Group CEO, Suzlon, said, “The renewable energy sector has transitioned from alternate to mainstream source of energy. Solar complements our existing strengths, infrastructure and experience in wind and we will leverage the same for executing solar projects. We look forward to work collaboratively with Unisun Energy Limited and contribute towards promoting green energy.”