Silicon Module Super League’ (SMSL) member Canadian Solar has forayed into India’s downstream solar sector by partnering with local firm Suzlon Group to develop two 15MW PV farms in Telangana.
Canadian Solar will acquire a 49% stake in Avighna Solarfarms Limited and Amun Solarfarms Limited, which are both special purpose vehicles (SPVs) created by Suzlon to build the projects.
The manufacturer will also supply its PV modules, arrange project financing and provide technical support to help commission the projects in Ramannapet and Kamareddy by FY2017.
The projects are part of the 210MW of projects won by Suzlon through competitive bidding in the state. These include one project of 100MW, one of 50MW and four projects of 15MW each.
The 30MW involving Canadian Solar have a tariff of INR 5.54/kWh (US$0.083) and a 25-year power purchase agreement (PPA) has been signed with the Telangana Southern Power Distribution Company Limited for the Ramannapet project and with Telangana Northern Power Distribution Company Limited for the Kamareddy project.
Suzlon will commission the plant and provide O&M services for 25 years.
Steve Iyer, vice president, operations, Canadian Solar, said: “These projects mark our first investment in the Indian solar sector and shall contribute to our global pipeline of 2.4GW of projects in late-stage development.”
Canadian Solar recently signed a PPA for a 63MW solar power plant in Aguascalientes, Mexico.
Suzlon and Unisun 15MW in Telangana
In separate news, Shanghai-headquartered developer Unisun Energy Group has also formed a joint venture with Suzlon to work on a 15MW PV project at Bhainsa, Adilabad District, Telangana.
Again, Unisun will acquire a 49% stake in Vayudoot Solarfarms Limited, an SPV set-up by Suzlon.
The off-taker of the Vayudoot project will be the Telangana State Northern Power Distribution Company Limited (TSNPDCL).
Suzlon will commission the project and provide O&M services for 25 years. The project is expected to be commissioned in FY17.