AMP Solar acquires 49% stake in Suzlon’s SPV for 15 MW solar project in Telangana

Suzlon has partnered with AMP Solar for developing a 15 MW solar power project at Achampet in Mahabobnagar, Telangana. According to the contract, AMP Solar will acquire 49 per cent stake in Rudra Solarfarms Limited, a special purpose vehicle (SPV) set up by Suzlon for executing this project. AMP Solar has the option to acquire the balance 51 per cent stake in the SPV in future. Suzlon will be responsible for project commissioning and providing comprehensive O&M services for 25 years. Power from the project will be sold to Telangana State Southern Power Distribution Company Limited at a tariff of Rs 5.99 per kWh. The project is expected to be commissioned in 2017.