Websol Energy Systems Ltd to form Joint Venture with AMP Energy India Pvt Ltd

Websol Energy Systems Limited has entered into a Term Sheet for establishment of a Joint Venture for the manufacture and production of upto 1.2 GW monocrystalline PERC solar cells and modules in two phases of 600 MW each with AMP Energy India Pvt at their existing unit at Falta, West Bengal. It is proposed to set up the unit in a JV company in which Websol will hold 51% and AMP the balance 49%.The project is to be financed with a combination of Debt and Equity and will have an off take agreement with AMP Energy India Pvt Ltd for upto 50% of production.

The above Term Sheet is subject to both parties agreeing on certain commercial terms and DD, Definitive Agreements.

Amp Energy India is India's first truly balanced Renewable Energy IPP with a total portfolio of about~2GW+ spread across 15 states in the country. Amp India has a balanced portfolio of C&I and utility customers which allows it to provide clean and green energy solutions to 50+ marquee customers across 10 diverse sectors such as Pharmaceuticals, Automobiles, Cement, Steel, Heavy Engineering, Infrastructure, FMCG, Educational Institutions, IT & Datacenters, Utilities and Government bodies.

Source : Equity Bulls

Keywords

WebsolEnergySystems TermSheet JV MonocrystallinePERC SolarCells Modules AMPEnergyIndia Falta WestBengal