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<p>Suzlon, a wind turbine manufacturer and renewable energy project developer, has entered into a joint venture (JV) with AMP Solar, a global renewable power provider, to develop and construct a 15 MW solar project at Achampet in Telangana. The project is expected to be commissioned in the financial year 2017. AMP Solar will acquire a 49 percent stake in Rudra Solarfarms, a special purpose vehicle (SPV) built by Suzlon to execute this project for a cash consideration of Rs.140 million (~$2.06 million), and has the option to acquire the remaining 51 percent stake a year after the project is commissioned.</p>
<p>Suzlon will be responsible for project commissioning and operation &amp; maintenance (O&amp;M) services for a period of 25 years. The company signed a power purchase agreement with Telangana Southern Power Distribution Company for a 25-year period at a tariff of Rs.5.599 (~$0.082)/kWh in February 2016.</p>
<p>With the formation of the JV with AMP Solar, Suzlon, to date, has formed joint ventures to develop and construct the <a href="http://www.suzlon.com/pressrelease/pressrelease_detail/66-suzlon-forays-into-solar-wins-210mw-projects-in-telangana/2016" target="_blank" rel="noopener noreferrer">entire 210 MW capacity</a> for which it had won bids in Telangana.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2017/06/Suzlon-Amplus.png"><img decoding="async" loading="lazy" class="aligncenter wp-image-4707 size-full" src="https://mercomindia.com/wp-content/uploads/2017/06/Suzlon-Amplus.png" alt="" width="486" height="202" srcset="https://cms.mercomindia.com/wp-content/uploads/2017/06/Suzlon-Amplus.png 486w, https://cms.mercomindia.com/wp-content/uploads/2017/06/Suzlon-Amplus-300x125.png 300w" sizes="(max-width: 486px) 100vw, 486px" /></a></p>
<p>“The Indian renewables market is booming and this will be beneficial for our investors and shareholders,” said Pinaki Bhattacharya, CEO, AMP Solar (India), on the eve of the JV formation.</p>
<p>Mercom had previously reported that Suzlon had formed JVs with CLP India, <a href="https://mercomindia.com/suzlon-set-45-mw-solar-projects-telangana-canadian-solar-unisun-energy/" target="_blank" rel="noopener noreferrer">Unisun Energy, Canadian Solar</a> and <a href="https://mercomindia.com/suzlon-partner-ostro-energy-set-50-mw-solar-project-telangana/" target="_blank" rel="noopener noreferrer">Ostro Energy</a> to develop and construct projects aggregating 195 MW in Telangana.</p>
<p>According to <em>Mercom</em><em>’s India Solar Project Tracker,</em> Suzlon currently has 515 MW solar projects under development at an average tariff of Rs.5.36 (~$0.0803)/kWh. The company does not have any operational solar projects, to date.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
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Suzlon Partners with Amplus Solar To Develop 15 MW Solar Project

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