CLP acquires 49% stake in Suzlon’s Telangana PV project, plans 132MW plant in Haryana

Facebook
Twitter
LinkedIn
Reddit
Email
The 100MW Veltoor solar project is expected to be commissioned by May 2017. Flickr: Ankur P

Power firm CLP India, a subsidiary of CLP Holdings, and renewables firm Suzlon Group have entered into a joint venture over a 100MW solar project at Veltoor in the Indian state of Telangana.

At a cost of INR735 million (US$10.9 million), CLP acquired a 49% stake in SE Solar, which is a special purpose vehicle set up by Suzlon for solar energy activities. CLP now also has the option to acquire the balance 51% one year after the date of commercial operation of the plant.

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

The project is expected to be commissioned by May 2017 and will be funded by 80% debt and 20% equity. It includes a 25-year power purchase agreement with Telangana Southern Power Distribution Company at a ficed tariff of INR5.59/kWh.

Through auction processes, Suzlon also has a 50MW and four 15MW solar projects in its Telangana pipeline.

The acquisition helps CLP to meet its target of having 20% of its power generation coming from renewables by 2020.

CLP has also signed a memorandum of understanding (MoU) with the state government of Haryana to set up a 132MW solar project at its Jhajjar coal-fired power station.

Rajiv Mishra, managing director of CLP India, said: “We have been keen to invest in solar in India to complement our wind portfolio. We believe that the state of Telangana has a favourable solar policy, which creates a conducive environment for us.”

CLP now has a committed capacity of 1.1GW of wind and solar across India.

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