$125 mln In­dia so­lar park deal signed in Cyprus

Financial Mirror (Cyprus) - - FRONT PAGE -

Con­cept So­lu­tions & In­no­va­tion Ltd, a Cypriot-based pho­to­voltaic so­lu­tions provider, con­cluded and ar­ranged the sup­ply and fi­nanc­ing for a mega so­lar park project in In­dia worth USD 125 mln.

The 75MW so­lar park in Pune, Ma­ha­rash­tra, is owned by Cap­tureSo­lar En­ergy Limited which man­dated Con­cept So­lu­tions to co­or­di­nate the pri­vate-sec­tor deal.

Con­cept then se­cured the lat­est tech­nol­ogy from Dan­ish turnkey PV de­vel­op­ers DanSo­lar In­ter­na­tional and the three­way agree­ment was signed in Ni­cosia by Cap­tureSo­lar’s CEO Raju Shivaji Bhos­ale and Con­cept’s CEO Peer Gelser, wit­nessed by High Com­mis­sioner Ravi Ban­gar and First Sec­re­tary Chan­drashekhar Sharma.

“This is a promis­ing sec­tor and the first of its kind co­or­di­nated by a Cyprus com­pany,” First Sec­re­tary Sharma told the Fi­nan­cial Mir­ror.

He added that the de­vel­op­ment of so­lar parks is a boom­ing mar­ket as In­dia plans to in­stall some 2,000 MW of PV units each year.

The project in Pune is aimed at a mix of con­sumers, both commercial power sup­ply and do­mes­tic use.

Cap­tureSo­lar’s chair­man and CEO Raju Shivaji Bhos­ale said that the PV so­lar park will be ready to sup­ply elec­tric­ity by March 2015.

The com­pany has adopted col­lab­o­ra­tive ap­proach with its tech­ni­cal part­ners, in­vestors and landown­ers and helps to deliver cost ef­fec­tive so­lu­tions to it’s cus­tomers us­ing a DBFO model (De­sign, Built, Fi­nance and Op­er­ate). It cur­rently has two so­lar parks un­der­way, with a to­tal 90MWp in­stalled ca­pac­ity and aims to de­ploy a cu­mu­la­tive so­lar in­stalled ca­pac­ity of 2GWp through or­ganic and in­or­ganic growth that con­trib­utes to­wards In­dia en­ergy se­cu­rity.

Newspapers in English

Newspapers from Cyprus

© PressReader. All rights reserved.