CLP India Picks 49% In Two Suzlon Solar Projects In Maharashtra


CLP India Picks 49% In Two Suzlon Solar Projects In Maharashtra

CLP India, a wholly-owned subsidiary of Hong Kong-based CLP Holdings, and one of the largest foreign investors in India’s renewable space, has acquired 49 per cent stake in two of Suzlon’s solar projects in Dhule, Maharashtra.

The total capacity of the two commissioned projects is 70 MW.

“As per the agreement signed between CLP India and Suzlon Group on August 10, CLP India has agreed to acquire 49 per cent stake in Gale Solarfarms Ltd and Tornado Solarfarms Ltd, two special purpose vehicles (SPV) set up by Suzlon,” CLP India said in a statement.

The Power Purchase Agreement (PPA) has a fixed tariff for 25 years at ₹4.115 per unit for the 20 MW project and ₹3.66 per unit for the 50 MW with Solar Energy Corporation of India Ltd to off-take the power. CLP India has the option to acquire the balance stake of 51 per cent in these projects, the company added, and Suzlon will continue providing operation and maintenance (OEM) services. Read more

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