Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

CLP India and Suzlon enter a partnership for two solar projects of 50 MW and 20 MW in Maharashtra

Posted On: 2018-09-11 11:20:42

CLP India, one of the largest foreign investors in the Indian power sector, and Suzlon, India's largest renewable energy solutions provider, today announced a joint venture for two solar projects of 50 MW and 20 MW in Dhule, Maharashtra. As per the agreement signed between CLP India and Suzlon Group on September 10, 2018, CLP India has agreed to acquire 49% stake in Gale Solarfarms Limited and Tornado Solarfarms Limited, two special purpose vehicles (SPV) set-up by Suzlon. CLP India has the option to acquire the balance 51% stake in the future. Suzlon is responsible to provide comprehensive operation and maintenance services for these projects that are already commissioned.

Mr. Rajiv Mishra, Managing Director, CLP India said, "In the last 16 years, we have built one of the most diversified fuel mix portfolios in the country and we are committed to expanding our renewable energy portfolio on the back of supportive government policies. With wind energy, we have been able to grow our footprint to almost 1000 MWs and we are confident of steadily building on our solar energy footprint. We already have two wind energy projectsin Maharashtra and we are happy to add another two solar projects here."

Mr. Mahesh Makhija, Director, Business Development and Commercial (Renewables), CLP India said, "Renewable energy has been a key pillar for us in our growth journey. We believe the renewables sector has transformed over the years and introduced several international best practices that have enhanced ease of doing business and encouraged further investments. We believe in the potential growth of the sector and will continue evaluating sustainable projects.

We have a long-standing association with Suzlon for both our wind and solar projects. We made our foray into solar energy with them for a 100 MW project in Veltoor. This project was recently awarded world's first solar project quality certification, having exhibited the highest quality standards. We are confident that we will be able to continue driving operational excellence across all our projects".

Mr J.P. Chalasani, Group CEO, Suzlon Group said, "We are glad to partner with CLP India for these two solar projects in Maharashtra. We are pioneers in the Indian wind energy and established a successful track record and leadership in the sector for over two decades. We are proud to have also proven our capabilities in solar with the execution of this 70 MW solar standalone project. We have commissioned a total of 340 MW solar projects including this and completed delivery of our entire solar order book. We are committed to partner with our customers to enable India's transition to a low carbon economy. With our expertise now both in wind and solar, we are progressively working towards harnessing the emerging opportunities in Wind-Solar Hybrid. Our pan-India presence, comprehensive product portfolio, robust in-house R&D and best-in-class services gives us the competitive edge."

Shares of SUZLON ENERGY LTD. was last trading in BSE at Rs.7.12 as compared to the previous close of Rs. 7.06. The total number of shares traded during the day was 5935867 in over 296005 trades.

The stock hit an intraday high of Rs. 7.25 and intraday low of 7. The net turnover during the day was Rs. 42361426.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Delta Magnets Ltd approves merger of Arrow Textiles Ltd and MMG

NBCC India Ltd secures business of Rs. 921.67 crore in August 2018

G E Shipping takes delivery of Secondhand Very Large Gas Carrier 'Jag Vasant'

RBI allows Rana Kapoor to continue as MD & CEO of YES Bank till Jan 31, 2019

Asian Paints Ltd announces sad demise of Shri Ashwin Choksi

CCI imposes penalty of Rs. 12.35 crore to Bajaj Hindusthan Sugar Ltd

Blue Coast Hotels Ltd hands over possession of Goa hotel to ITC

Shankara Building Products Limited opens its 134th Store

Allahabad Bank to raise Rs. 1500 crore through QIP in 2018-19

Manali Petrochemicals Ltd to commence supply of new products from Sep 19, 2018

HPL Electric Participates in 12th edition of 'Renewable Energy India Expo 2018'

Vaibhav Global Ltd allots 1666 shares

Kanpur Plastipack Ltd extends date for payment of final call money

Newgen Software Technologies Ltd signs agreement with HP for supply of software licences

Raghav Productivity Enhancers Ltd bestowed with Rajasthan Udyog Ratan Award 2018

Varroc Engineering arm forms JV with ELBA SA

Nucleus Software's lending software goes live at VietCredit Finance Joint-Stock Company

Glenmark Pharmaceuticals inducted into the DJSI Emerging Market 2018

HFCL bags purchase order worth Rs. 611 crore from BSNL

26 young people with type 1 diabetes successfully surmount 13,000 feet in 'India's 2nd T1D Challenge 2018'

TVS Motor Company strengthens its presence in Mexico

Brand Idea urges people for 'Responsible Use of Social Media' through the latest #MeriRealLife campaign

Bharti Foundation expands Quality Support Program to Karnataka

Ambuja Cement among the top 5 in global DJSI ranking-2018

Dish TV: D2H brand increases focus on South, launches new customer awareness TVC

Tata Steel Limited completes the acquisition of 51% equity stake in Creative Port Development Private Limited

Clariant Chemicals India Ltd updates on announcement from holding company

Lupin appoints Alok Sonig as CEO - US Generics and Global Head - Generics R&D & Biosimilars

KIOCL Ltd approves buyback of 1,25,88,235 equity shares at Rs. 170

IL&FS Transportation Networks Ltd arm gets claim from NHAI

Vyapar Industries Ltd approves sale of part investment in Beneficent Knowledge Parks & Properties Ltd

TI Financial Holdings Limited to change name

NIIT Technologies introduces Chain-m, a Blockchain powered solution for Airlines and its partners

Steel Strips Wheels Ltd announces resignation of CFO

RITES Ltd secures additional turnkey contract work for Rs. 436 crore

Sun Pharma announces receipt of European Commission approval for ILUMETRI® by Almirall

Tata iQ Selects TCS Jile™ to Drive Agile Transformation

ICICI Prudential Life and Saraswat Co-operative Bank sign bancassurance partnership

Woodpecker Distilleries & Breweries Private Ltd. launches Blackfort Lager Beer

DAC Approves Procurement of Equipment Worth Rs 9,100 Crores

ITI Limited Conferred with National Safety Awards

Future Market Networks Ltd completes acquisition of 50% in Future Retail Destination Ltd

Strides Pharma Science Ltd updates on USFDA inspection at Bangalore facility

Lime Chemicals Ltd appoints company secretary

Indian Hume Pipe Company Ltd receives LoA for Rs. 221.72 crore order

PNC Triveni Sangam Highways Pvt Ltd achieves financial closure

Financial Creditors initiate CIRP against Pratibha Industries Ltd

Bank of Baroda confirms intimation received on merger of Vijaya Bank and Dena Bank

L&T Construction Wins Orders Valued Rs. 2048 Crore

TVS NTORQ 125 crosses 1 lakh sales mark, launches new Metallic Red colour





Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018