- Press Releases
October 13 (Renewables Now) - French renewable power producer Technique Solaire Group has finalised the acquisition of a 34-MWp ground-mounted solar power plant in India's most populous state of Uttar Pradesh, taking to 68 MWp the total capacity of its photovoltaic (PV) plants in the South Asian country.
The asset was bought from Indian businessman Ravi Goyal and domestic diversified industrial conglomerate Jakson Group for an undisclosed amount. Located in Mahoba, the plant produces 49,500 MWh of renewable electricity per year, which equates to the energy consumption of 78,383 inhabitants.
Commissioned in 2017, the plant has a power purchase agreement (PPA) with state-owned Uttar Pradesh Power Corporation Limited (UPPCL).
"For us, India is a country with high strategic stakes and our objective is to acquire other projects there in order to hold several hundred MWp by the end of 2024," Technique Solaire financing director Edouard Dazard said.
This is the first step taken by the French company to grow externally through the acquisition of an operating solar power plant and is a strategy the company intends to pursue further to boost global growth. The deal advances Technique Solaire's stated goal of reaching a total of 1 GWp of solar PV plants in operation through 2024.