Suryachakra Power Venture inks MoU with Sunborne Energy and CITADEL Research

Suryachakra Power Venture (SPVPL) an associate of Suryachakra Power Corporation and Suryachakras’ Group Company has entered into a Memorandum of Understanding (MoU) with Sunborne Energy Services India, Gurgaon (of Sunborne Energy Technologies, USA) and CITADEL Research & Solutions, Hyderabad to work together for establishing a 5 MW concentrated solar thermal power project in the state of Andhra Pradesh (AP).

The project execution will be carried out by CITADEL and Sunborne and all the parties will endeavor to achieve financial closure and Commercial Operation Date (COD) at the earliest. SPVPL has earlier executed a Power Purchase Agreement with Central Power Distribution Company of AP for establishing the project under Generation Based Incentive scheme of Ministry of New and Renewable Energy (MNRE).

Suryachakra Power Corporation (SPCL) is the flagship company of Suryachakra Group with interests in Power generation - renewable energy (biomass, solar, hydro) and coal based, engineering and consultancy and urban infrastructure development activities.