SkyPower Scout­ing for Lo­cal Part­ners

Cana­dian so­lar power co won projects to gen­er­ate 350 MW

The Economic Times - - Companies: Pursuit Of Profit - Kaavya.Chan­drasekaran @times­group.com

New Delhi: Cana­dian so­lar power firm SkyPower Global, which has won projects to de­velop 350 MW ca­pac­ity in the country, is scout­ing for lo­cal part­ners and has hired in­vest­ment banker Green­stone En­ergy Ad­vi­sors to help its search.

“In ev­ery sin­gle mar­ket we are in to­day, we have en­tered af­ter choos­ing a lo­cal part­ner. In­dia is the only ex­cep­tion,” SkyPower CEO Kerry Adler told ET in an exclusive in­ter­view.

“But here too we are look­ing for a part­ner not to fund our ac­tiv­i­ties, but to pro­vide us with lo­cal ex­per­tise and aug­ment our abili- ties,” he said. SkyPower won seven projects in In­dia last year — three in Mad­hya Pradesh (150 MW) and four in Te­lan­gana (200 MW).

Green­stone fo­cuses ex­clu­sively on In­dia’s re­new­able en­ergy sec­tor, help­ing devel­op­ers raise fi­nances. “We were ap­proached by a dozen groups and we were so over­whelmed that we hired Green­stone to act as our in­ter­face with the in­ter­ested par­ties and fil­ter, on be­half of the com­pany, the of­fers that make sense and the ones that don’t,” said Adler. “But we have not se­lected a part­ner yet.” He said the com­pany hopes to set up 18,000 MW of so­lar ca­pac­ity in In­dia in the next six years. “In­dia is a new mar­ket where the govern­ment is putting to­gether poli­cies and pro­grammes that will en­cour­age for­eign in­vestors and si­mul­ta­ne­ously cre­ate a mar­ket­place for re­new­able en­ergy.”

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