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

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

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

July 11, 2025
Indian independent power producer (IPP) Juniper Green Energy has commissioned an additional 71MWp at Chapalgaon Solar Project in Solapur, Maharashtra.
July 9, 2025
Indian solar water pump and motor manufacturer Shakti Pumps has successfully raised INR2.9 billion (US$34.1 million) to build a solar cell and module manufacturing plant.
July 8, 2025
German solar glass manufacturer Glasmanufaktur Brandenburg (GMB) has filed for insolvency after posting monthly losses of €900,000 this year.
July 8, 2025
Energy consultancy JMK Research has forecast 28.3GW of utility-scale and residential solar PV to be installed in India during fiscal year 2026.
July 8, 2025
SJVN Green Energy has commenced commercial operations of 100.02MW from its 1,000MW solar power project in Bikaner, Rajasthan.
July 7, 2025
ReNew has received a non-binding final acquisition offer from a consortium at US$8 per share, which is 13.2% more than their earlier offer.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK