DLF acquires stake in Suncloud Solar for self-consumption

DLF Cyber City Developers has collaborated with Cleantech Solar India to set up a solar plant for self-consumption. The company, with its subsidiary, DLF Info City Chennai, has agreed to acquire a 26.43 per cent stake in Suncloud Solar, a special purpose vehicle of Cleantech Solar India OA 2 set up to build the plant.

According to the agreement, Suncloud Solar will be responsible for the construction, operations and maintenance of the captive generating plant and supply the power generated to DLF under a power purchase agreement (PPA).The cost of acquisition will take place at an equity valuation of Rs 84.1 million.

In March 2023, Cleantech Solar commissioned 37 MWp of solar photovoltaic projects for a global industrial manufacturing giant at its solar parks across Maharashtra with a total capacity of 300 MWp. The client will purchase power from these solar parks on a captive basis and will supply green energy to their manufacturing facilities.