SunEdison sells installed commercial rooftop solar portfolio in India

Amplus Solar said that the SunEdison rooftop portfolio included over 150 operating systems across India. Image: SunEdison

Bankrupt renewable energy developer SunEdison has sold its commercial and industrial rooftop solar PV portfolio in India to India-based solar installer Amplus Energy Solutions (Amplus Solar) for an undisclosed sum.

Amplus Solar said that the SunEdison rooftop portfolio included over 150 operating systems across India. According to previous local reports, I Squared Capital invested round US$150 million in Amplus Solar in 2015 to support the roll-out of commercial rooftop projects and possible acquisitions. Recent reports indicated the company had acquired around 7MW of total rooftop projects in India from SunEdison.

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

Sanjeev Aggarwal, Managing Director and CEO of Amplus said, “Amplus Solar is excited to acquire this high-quality portfolio. We have grown rapidly since an equity investment by I Squared Capital in June 2015. Following this acquisition, Amplus will operate over 150 distributed generation and rooftop systems across India. Amplus provides integrated project delivery, operations and maintenance to commercial and industrial customers. We continue to develop our rooftop portfolio and evaluate acquisitions in the renewable energy sector in India and beyond.”

Amplus Solar also noted that it would be adding its proprietary remote monitoring and in-house data collection systems to the acquired solar portfolio.

The company specialises in commercial and industrial rooftop solar systems in India, recently commissioning what is claimed to be India’s largest single-location rooftop solar installation for captive use of 4,000kW for Yamaha Motors.

Rooftop solar in India was said to have reached a cumulative 525MW, according to Amplus Solar.

Read Next

June 24, 2024
The US has yet again been named the most attractive market for renewables investment and deployment opportunities, according to EY.
June 21, 2024
Solar PV is expected to generate 20% of global power across midday peaks on the summer solstice in the northern hemisphere, up from 16% in 2023.
June 21, 2024
PV Tech Premium talks to Nextracker president Howard Wenger about the company's business, expansion plan and R&D spending. 
June 20, 2024
Greater supply chain independence is a priority for companies in the solar sector, according to Hardeep Singh at Intersolar Europe 2024.
June 18, 2024
Indian solar module manufacturer Vikram Solar has signed a 393.9MW module supply agreement to supply the Khavda Solar park in the state of Gujarat.
June 18, 2024
Global solar installations increased by 87% year-on-year in 2023 as China continued to dominate growth, according to SolarPower Europe.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Upcoming Webinars
July 10, 2024
9am (BST) / 10am (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland