INTPOW member Statkraft and Bharat Light & Power, a leading renewable energy company in India have announced the formation of a new 50-50 joint venture to provide distributed solar energy solutions in India.
The joint venture called Statkraft BLP Solar Solutions Private Limited (“SBSS”) will provide industrial and commercial consumers with both rooftop and ground mounted solutions with world class technology and execution. In addition, SBSS shall provide a variety of financing structures, whereby consumers can convert their solar CAPEX into an attractive per unit cost of solar energy, enabling consumers to reduce their carbon footprint and lower energy costs.
“This partnership brings together two entities committed to support the government’s renewable energy objectives,” said BLP CEO Tejpreet S. Chopra. “By providing distributed solar energy solutions on a per kWh basis, storage and micro grid solutions, we intend to transform the way power is generated and consumed in India. This will go a long way in supporting the government’s mission of 24/7 power for all by 2019”.
Statkraft’s CEO, Christian Rynning-Tønnesen said: “Exploring new business opportunities within distributed solar energy are of great importance to Statkraft. The combination of our core competence in energy management and Bharat Light & Power’s local knowledge and expertise, constitutes a solid platform for value creating services to industrial and commercial customers in India”.