Suzlon Group, CLP join hands for solar project

Suzlon Group, CLP join hands for solar project

CLP India, one of the largest foreign investors in the Indian power sector, and Suzlon Group have announced a joint venture for a 100 mW solar project at Veltoor, Telangana.

The Veltoor solar project is the first joint venture project for CLP India and the company has extended its presence in India across eight states after this investment.

 As per the agreement signed between CLP India and Suzlon Group, CLP India acquired 49% stake in SE Solar, a special purpose vehicle (SPV) set up by Suzlon. CLP India has the option to acquire the balance 51% in the future.

The project is expected to be commissioned by May 2017, and will be funded 80% by
debt and 20% by equity, Suzlon said.
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