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Suzlon Energy enters deal to divest stakes in two solar projects

Wednesday, 12 Sep 2018
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Suzlon Energy, a green energy solutions provider has entered in a pact with CLP India to divest 49 percent stake in two of its solar projects in Maharashtra.

The joint venture (JV) has been formed for two solar projects of 50 MW and 20 MW in Dhule, Maharashtra. As per the agreement, CLP India will pick 49 percent stake in Gale Solarfarms and Tornado Solarfarms -- the two special purpose vehicles (SPVs) holding the assets in Maharashtra.

The two projects have a power purchase agreement (PPA) at a fixed tariff for 25 years at Rs 4.115 per unit for 20 MW and Rs 3.66 per unit for 50 MW. This will be CLP India’s second JV with Suzlon Energy. The company in 2016 picked a similar stake in 100 MW project with Suzlon Energy.

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