JV to develop energy projects in India
New Jersey-based Think Energy and EverStream Capital have entered into a joint venture to develop and/or acquire more than 2,000 MW of solar projects all over India over the next three years and hope to invest up to $300 million in equity capital.
The Think-EverStream Joint Venture will pursue both ground-mounted and rooftop photovoltaic (PV) assets with commercial and industrial off-takers, as well as select State and Central government utility-scale tenders, EverStream Capital said in a statement.
The JV had recently participated in the Solar Energy Corporation of India’s (SECI) government rooftop tender and was awarded a project portfolio totalling 23.39MW, which will be located in the States of Karnataka, Maharashtra, Gujarat and Andhra Pradesh.
Steady transition
Ravishankar Tumuluri, MD of the Think–Everstream JV Development Company, said: “The Indian solar market is slowly, but steadily transitioning from large-scale ground mounted solar parks towards distributed generation, and from government PPAs towards commercial & industrial PPAs. As battery technology costs fall, distributed solar generation with commercial and industrial customers will drive growth.”
Source: thehindu
