Suzlon and Ostro Energy JV for 50 MW solar project in Telangana

  Suzlon Group, one of the leading renewable energy solutions providers in the world, has announced joint venture with Ostro Energy for the development and construction of a 50 MW solar project at Wanaparthy site, Telangana.
According to the contract signed between Ostro Energy and Suzlon Group on 24th October 2016, Ostro Energy shall acquire 49 per cent stake in Prathamesh Solar farms Limited, a special purpose vehicle (SPV) set-up by Suzlon for executing this project. Ostro Energy has the option to acquire the balance 51 per cent in future in accordance with the relevant rules and regulations. The off taker of this project will be Telangana Southern Power Distribution Company Limited. Suzlon will be responsible for the project commissioning and will also provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in financial year 2017 (FY17) and will be funded 75 per cent by debt and 25 per cent by equity.
Ranjit Gupta, CEO, Ostro Energy, said, “With the government’s thrust on renewables and the target to build 100 GW of solar energy projects by 2022, this is the right time for us to foray into solar energy. This joint venture for our first solar project in Telangana is a significant step for the company towards a balanced energy portfolio. This is aligned to our vision to be a 1000 MW renewable energy company in India by 2018.”
 J.P. Chalasani, Group CEO, Suzlon Group,  also shares, “Today, renewable energy sector is witnessing a positive momentum. The sector is committed to provide sustainable and affordable energy for all. We believe if India’s renewable potential is unlocked, it can transform the country’s energy architecture to be dominated by clean energy sources. We look forward to our continuing partnership with Ostro and thereby contributing in the country’s energy security.”
Hartek Power bags 460 MW solar EPC orders
Cruising to its target of connecting 500-MW solar projects to the grid in 2016-17, Hartek Power, one of India’s fastest growing Engineering, Procurement and Construction (EPC) companies based in Chandigarh, has bagged 460 MW solar EPC orders already in the first half of the current financial year, thus registering a steep increase of 373 per cent over last year when the company had secured just 123 MW orders.
The 460 MW solar EPC orders bagged by the company include 16 substation projects of up to 132 KV spread across six states, including Punjab, Bihar, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra. Specialising in executing high-voltage turnkey substations and power infrastructure projects, Hartek Power will provide complete turnkey solutions for these projects and execute post-inverter works covering the design, engineering, supply, installation, automation and commissioning of the power plant electrification.

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Suzlon and Ostro Energy JV for 50 MW solar project in Telangana

  Suzlon Group, one of the leading renewable energy solutions providers in the world, has announced joint venture with Ostro Energy for the development and construction of a 50 MW solar project at Wanaparthy site, Telangana.
According to the contract signed between Ostro Energy and Suzlon Group on 24th October 2016, Ostro Energy shall acquire 49 per cent stake in Prathamesh Solar farms Limited, a special purpose vehicle (SPV) set-up by Suzlon for executing this project. Ostro Energy has the option to acquire the balance 51 per cent in future in accordance with the relevant rules and regulations. The off taker of this project will be Telangana Southern Power Distribution Company Limited. Suzlon will be responsible for the project commissioning and will also provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in financial year 2017 (FY17) and will be funded 75 per cent by debt and 25 per cent by equity.
Ranjit Gupta, CEO, Ostro Energy, said, “With the government’s thrust on renewables and the target to build 100 GW of solar energy projects by 2022, this is the right time for us to foray into solar energy. This joint venture for our first solar project in Telangana is a significant step for the company towards a balanced energy portfolio. This is aligned to our vision to be a 1000 MW renewable energy company in India by 2018.”
 J.P. Chalasani, Group CEO, Suzlon Group,  also shares, “Today, renewable energy sector is witnessing a positive momentum. The sector is committed to provide sustainable and affordable energy for all. We believe if India’s renewable potential is unlocked, it can transform the country’s energy architecture to be dominated by clean energy sources. We look forward to our continuing partnership with Ostro and thereby contributing in the country’s energy security.”
Hartek Power bags 460 MW solar EPC orders
Cruising to its target of connecting 500-MW solar projects to the grid in 2016-17, Hartek Power, one of India’s fastest growing Engineering, Procurement and Construction (EPC) companies based in Chandigarh, has bagged 460 MW solar EPC orders already in the first half of the current financial year, thus registering a steep increase of 373 per cent over last year when the company had secured just 123 MW orders.
The 460 MW solar EPC orders bagged by the company include 16 substation projects of up to 132 KV spread across six states, including Punjab, Bihar, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra. Specialising in executing high-voltage turnkey substations and power infrastructure projects, Hartek Power will provide complete turnkey solutions for these projects and execute post-inverter works covering the design, engineering, supply, installation, automation and commissioning of the power plant electrification.

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