Amplus buys SunEdison’s commercial & industrial rooftop assets in India
Solar array. Author: Som Energia Cooperativa. License: Attribution 2.0 Generic.
Indian distributed solar firm Amplus Energy Solutions Pvt Ltd said today it has bought the local portfolio of commercial and industrial rooftop projects of bankrupt US renewables developer SunEdison (OTCMKTS:SUNEQ).
“Following this acquisition, Amplus will operate over 150 distributed generation and rooftop systems across India,” said Sanjeev Aggarwal, managing director and CEO of Amplus. He added that the company continues to consider acquisitions in India and beyond.
The purchase adds relationships with firms such as Intel, Amway, Standard Chartered Bank, Whirlpool and Delhi Metro among others. Some of Amplus’ existing customers are Walmart and Yamah Motors.
The buyer, which is backed by New York-based infrastructure investment manager I Squared Capital, owns and manages a portfolio of operational and under-construction solar systems with a combined capacity of over 30 MW. It serves more than 25 customers at over 200 locations under the brands Amplus Solar and M+ Solar.