CLP India acquires 49 per cent stake in SE Solar

CLP India Private Limited has acquired a 49 per cent stake in SE Solar, a special purpose vehicle set up by Suzlon Energy to develop a 100 MW solar project at Veltoor, Telangana. The deal, reportedly valued at Rs 7.6 billion, also allows CLP India to acquire the remaining 51 per cent stake later. The power purchase agreement with a fixed tariff of Rs 5.59 per kWh has already been signed with the Telangana Southern Power Distribution Company for a period of 25 years. The project is expected to be commissioned by May 2017 and will be funded in an 80:20 debt-equity ratio.