SunSource Energy, a solar EPC player in India, is boosting its portfolio with plans to develop a 200-mw solar park in Uttar Pradesh entailing an investment of Rs 900 crore. The company has also received funding from State Bank of India-led Neev Fund, which a top executive said will help it reach its target of 1.5 gw project capacity by 2025.The Neev Fund is a joint initiative of the SBI and UK’s Department for International Development(DFID) to develop projects in states with low capital investment.
“At the Uttar Pradesh Investors Summit next week, the company will sign a memorandum of understanding with the state government to develop a 200-mw solar park, which should be completed between 2021 and 2022. We have committed ₹900 crore for this,” Kushagra Nandan, president of SunSource Energy, told ET. The project will be financed through a mix of debt and equity, he said. Read More…
Latest posts by The Economic Times (see all)
- Generating companies may get to invite bids from discoms to sell power - March 23, 2019
- CIL dividends, buybacks to draw Rs 19,000 crore for government - March 20, 2019
- Eyeing Southeast Asia, India builds port in Indonesia - March 20, 2019