Atlantic Tele-Network plans South India solar venture by purchasing Armstrong

Facebook
Twitter
LinkedIn
Reddit
Email
Armstrong's first solar PV plant in India. Credit: Armstrong.

US-based solar firm Ahana Renewables, a subsidiary of investment firm Atlantic Tele-Network (ATN), has purchased the development business of India-based PV company Armstrong Energy Global in order to develop solar projects in Southern India.

Ahana will retain the Armstrong management team to oversee the development, construction and operation of solar energy projects via a newly-established company named Vibrant Energy Holdings, which will be a subsidiary of Ahana.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Vibrant Energy has an initial pipeline of 50MW to be constructed in the next six to nine months and targets 250-350MW of solar in India by 2018. The initial projects are for private commercial and industrial enterprises, focused on the states of Andhra Pradesh, Maharashtra and Telangana.

Developing the projects is expected to require an initial capital investment of roughly US$50 million to US$100 million, to be complemented by debt and other funding.

Jason Tai, managaing director at Ahana Renewables, said India is an attractive location for long-term solar investment with solar having reached grid parity in many parts of the country without reliance on government subsidies.

He added: “We believe the economic argument in favor of solar will only improve in the future as equipment costs continue to fall.”

Ramnath Nandakumar, managing director of Armstrong, said: “Our large development pipeline of solar projects in India and dedicated local team combined with Ahana’s experience and financial resources will enable us to meet our goal of delivering hundreds of megawatts of clean, reliable electricity to customers in a country where supply can still be unreliable. We believe India is today the most exciting country in the world for solar power.”

Ahana Renewables currently operates a US$220 million solar portfolio of solar installations spread across California, New Jersey, and Massachusetts in the US, with a combined capacity of around 47MW.

Read Next

September 8, 2025
Vikram Solar has won a 336MW module supply agreement from L&T Construction for the 2.3GW Khavda solar park in Gujarat. 
September 4, 2025
India’s Goods and Services Tax (GST) Council, the joint forum of the Centre and States, has reduced the GST rate on renewable energy components from 12% to 5%. 
September 4, 2025
Indian solar manufacturer Waaree Energies has acquired a 64% equity stake in power transformer manufacturing company Kotsons.
September 3, 2025
India has added 2.8GW of rooftop solar in H1 2025, a 158% year-on-year surge from just 1.1GW in the same period last year.
September 1, 2025
The US International Trade Commission (ITC) has voted to continue the investigation on imported solar cells from India, Indonesia and Laos.
August 28, 2025
Indian solar manufacturing firm INA Solar has broken ground on its fourth 4.5GW cell production plant in Narmadapuram, Madhya Pradesh.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines