India Power Green Utility and Punj Lloyd to Co-Develop 20 MW of Solar in Uttarakhand

India Power Green Utility Private Limited (IPGUPL), a wholly owned subsidiary of India Power Corporation Limited, will co-develop 20 MW of solar in Uttarakhand in partnership with Punj Lloyd. The project will consist of two 10 MW solar projects.

For these projects, IPGUPL has acquired a 49 percent stake in PL Sunrays Power and PL Renewable, wholly owned subsidiaries of Punj Lloyd.

According to Mercom’s India Solar Project Tracker, PL Sunrays Power had won a bid to develop 10 MW of solar by quoting a tariff of Rs.5.99 (~$0.0896)/kWh and PL Renewable won a bid to develop 10 MW solar project by quoting a tariff of Rs.5.84 (~$0.0874)/kWh.

This is not a new model in the Indian solar sector. In October 2016, Mercom had reported that Suzlon Energy, a renewable energy project developer, entered into partnerships with Unisun Energy and Canadian Solar to construct solar projects aggregating 45 MW in Telangana.

 

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