Statkraft acquires BLP’s shares in SBSS.

Statkraft, Europe’s largest generator of renewable energy and Bharat Light and Power (BLP), have agreed to end the partnership. BLP has agreed to sell its stake in the joint venture Statkraft BLP Solar Solutions Private Limited (SBSS) to Statkraft.

SBSS provides distributed solar solutions to the commercial & industrial segment in India.

Tejpreet S. Chopra, Managing Director, BLP said, “The transaction is in line with BLP’s strategy of optimizing value across its business lines.  BLP and Statkraft have created a leading venture which has successfully commissioned projects across India, and developed a strong brand in the distributed solar space. We wish to thank Statkraft for a fantastic partnership, and wish Statkraft the very best in their future endeavours.”

”The cooperation between Statkraft and Bharat Light and Power has been a success. In 2015 we agreed to jointly explore various business models for solar development in India. Now, as these ambitions have successfully been accomplished, we have agreed to independently pursue our respective business ideas within the solar sector in India. We would like to use the opportunity to thank TP Chopra and BLP for the cooperation.” says Statkraft’s CEO Christian Rynning-Tønnesen.

Marthe Hoff, Senior Vice President International Markets, is enthusiastic about the future:

“The talented and motivated employees of SBSS are committed to realize Statkraft’s ambition to be the preferred supplier of renewable, innovative and cost efficient energy solutions for Commercial and Industrial companies across India. Statkraft will scale up its effort and combine local expertise with the international experience the company has accumulated from more than 120 years of operation.”