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CLP India & Suzlon enter into a JV for the Veltoor solar project in Telangana CLP India & Suzlon Group have announced their joint venture for a 100 MW solar project at Veltoor in Telangana. As per the agreement signed between CLP India and Suzlon Group on June 14, 2016, 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 future. The project is expected to be commissioned by May 2017 and will be funded 80% by debt and 20% by equity. India is a primary growth market for CLP and the Veltoor solar project will make an important contribution to CLP’s expansion plan. Besides, it will aid CLP to meet its target of having 20% of power generated by renewable energy by 2020. Recently, CLP India also signed a MoU with the State Government of Haryana to set up a 132 MW solar project at its Jhajjar power station. Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the Power Purchase Agreements (PPAs) for the same were signed in February, 2016. These include one project of 100 MW, one of 50 MW and four projects of 15MW each. Mr. Rajiv Mishra, Managing Director, CLP India, said, “Our approach to the market evolves around the kind of opportunities available as well as the prevailing policy framework. We have been keen to invest in solar in India to complement our Wind portfolio, and have evaluated projects that will be value-enhancing for our shareholders, whilst being attractive for our customers. The Veltoor solar project meets both the criteria. We believe that the state of Telangana has a favourable solar policy, which creates a conducive environment for us. We remain keen and will continue to explore such projects to expand our renewable energy footprint in Telangana and across India.” Mr. Tulsi Tanti, Chairman and Managing Director, Suzlon Group, said, “Globally, renewable energy is witnessing a paradigm shift from being considered alternate to mainstream source of energy. Investments in both wind and solar have garnered traction owing to the improving cost competiveness enabled through technology advancements and the need to transition from fossil fuel dominated energy architecture. “I do more with less” Maximized throughput at lowest production cost per wafer. Meyer Burger refines diamond wire cutting technology with significantly increased cutting speed using thinnest diamond wire. New DW288 Series 3 impresses with hard facts: 50% more wafers per time unit Lowest kerf loss and minimal wire consumption Ultra-thin wafers ideal for application in trendsetting HJT cell process Get to know our know-how: meyerburger.com Liang Ming Owner Asia Slurry Inc. energetica INDIA · MAY16 19


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