MYSUN has bagged 140 MW of solar power projects from Uttar Pradesh Power Transmission Corporation Limited (UPPTCL). The projects have been allocated under the captive/open access mode. Around 1.5 GW of grid sub-station capacity was put up for allocation. MYSUN will develop these projects across multiple districts primarily in parts of the western Uttar Pradesh. The company will supply power to large energy consumers like industries, data centers, corporate parks and builders in Uttar Pradesh.
As per a company statement, the allocation of this 140 MW is a commitment from their side to provide clean, reliable and affordable solar power to large energy consumers like industries, data centers, corporate parks and builders in Uttar Pradesh. The company is growing its reach throughout states such as Uttar Pradesh, Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Tamil Nadu, and the national capital region through its recently created asset vehicle MYSUN+.
In July 2021, MYSUN partnered with Tata Cleantech Capital Ltd (TCCL) to raise Rs 150 million in debt funding. MYSUN launched its solar asset vehicle MYSUN+ to develop solar projects under the distributed and open access models by infusing Rs 6 billion in the initial phase. The loan would be used to fund the existing projects of MYSUN+, while the credit line will be pumped into building the projects in the pipeline. Moreover, the funding from TCCL would help de-leverage MYSUN’s equity capital and develop a larger pipeline of projects. The company is looking to develop about 200 MW of projects over the next few quarters, which are currently at various stages of development.