Suzlon Group, one of the leading renewable energy solutions providers in the world, has entered into a joint venture (JV) with the Unisun Energy Group for the development and construction of a 15 MW Solar PV Project located at Bhainsa, Adilabad District in state of Telangana. The Unisun Energy Group shall acquire a 49% stake in Vayudoot Solarfarms, a special purpose vehicle (SPV) set-up by Suzlon for executing this project.
Unisun Energy has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off-taker of the Vayudoot project will be the Telangana State Northern Power Distribution Company (TSNPDCL). The company has signed a 25 years Power Purchase Agreement (PPA) with a tariff of Rs 5.51/kWh.
Suzlon will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in the financial year 2017 (FY17).
