Archives for Solar

Think-EverStream JV bags KREDL’s solar tender

Think Energy, a New Jersey-based solar development company and EverStream Capital, a renewable energy-focused PE fund manager, have formed a partnership to capitalize on entering Karnataka’s solar PV market. The Think- EverStream Joint Venture in Karnataka is planning to tap both ground-mounted and rooftop PV assets with commercial and industrial off-takers, as well as select State and Central government utility-scale tenders. Both the companies under a partnership with a Spanish developer have developed, financed, and built a 100 MW portfolio of utility-scale solar projects in Telangana. The six projects were successfully commissioned in fourth quarters of 2017 and are commercially operational. The joint venture company bagged few the Solar Energy Corporation of India’s (SECI) roof-top tenders totaling 23.39 MW, which will be located in the states of Karnataka, Maharashtra, Gujarat and Andhra Pradesh.“The company recently won Karnataka Renewable Energy Development Ltd’s (KREDL) 55 MW of solar capacity tender. Building on this success, the JV plans to develop or acquire over 2,000 MW of solar projects throughout India over the next three years and expects to invest upwards of $300 million in equity capital,” said Ravishankar Tumuluri, MD of the Think – EverStream Joint Venture Development Company.

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Solarpack wins contract to develop 100MW DC solar plant in India: PV Magazine

Spanish PV group Solarpack is set to construct six solar PV plants with a combined capacity of 100 MW in the Indian state of Telangana. Solarpack is partnering on the project with U.S. firm Think Energy Partners, which develops, finances and constructs photovoltaic solar plants in India. The state electricity distribution company, TSSPDCL, will acquire all the generated electricity through a 25-year power purchase agreement. The consortium will build the six plants in the Telangana districts of Mahbubnagar, Medak and Nizamabad. Construction is slated to begin in the first half of the year, with the plants scheduled to be operational by January 2017. The plants are expected to generate some 160 gigawatt-hours annually. Solarpack CEO Pablo Burgos said the deal allowed “the entry into a market as important as India’s and demonstrates our experience and growing international presence that permits us to be competitive in the most relevant markets.”Burgos added that it was counting on the support of Think Energy Partners, which is already widely established in the country, to respond to any challenges that may be encountered. Ravishankar Tumuluri, managing partner of Think Energy Partners, said the project was “just the beginning” and the company would continue to work toward bringing more and more experience and solar business to India. The project marks the first contract awarded to Solarpack in India. The company has so far focused primarily on the Spanish and South Amercian markets. It has commissioned five solar plants in Spain with a combined capacity of 35 MW in addition to 37 MW from three solar installations in Chile and 62 MW from three plants in Peru.

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Heads of US-based companies call on KCR: Local Daily in Telangana

D Ravi Reddy, Chairman, Think Capital and Prashant Mitta, Chairman, Think Energy both US based companies called on Chief Minister K Chandrashekar Rao at the Secretariat here on Thursday. D Ravi Reddy, Chairman, Think Capital and Prashant Mitta, Chairman, Think Energy both US based companies called on Chief Minister K Chandrashekar Rao at the Secretariat here on Thursday. They told the Chief Minister that they deal with energy and waste water technology. Through manufacturing of waste water technology and developing energy projects they would like to participate in the development of State of Telangana. They also told that they were also dealing with gas and solar energies. The Chief Minister positively responded and asked them to come up with detailed project reports to take a view and consider their request. Health Minister Laxma Reddy, Advisor to Government K V Ramana Chary, Telangana GENCO Chairman D Prabhaker and Principal Secretary Aravind Kumar were also present in the meeting.

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