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BLP and Statkraft partner for distributed solar in India

03 Nov, 2015

(Oslo/New Delhi) Bharat Light & Power, a leading renewable energy company in India and Statkraft, the largest renewable energy producer in Europe, today announced the formation of a new 50-50 joint venture to provide distributed solar energy solutions in India.

The joint venture called Statkraft BLP Solar Solutions Private Limited (“SBSS”) will provide industrial and commercial consumers with both rooftop and ground mounted solutions with world class technology and execution. In addition, SBSS shall provide a variety of financing structures, whereby consumers can convert their solar CAPEX into an attractive per unit cost of solar energy, enabling consumers to reduce their carbon footprint and lower energy costs.

“This partnership brings together two entities committed to support the government’s renewable energy objectives,” said BLP CEO Tejpreet S. Chopra. “By providing distributed solar energy solutions on a per kWh basis, storage and micro grid solutions, we intend to transform the way power is generated and consumed in India. This will go a long way in supporting the government’s mission of 24/7 power for all by 2019”.

Statkraft’s CEO, Christian Rynning-Tønnesen said: “Exploring new business opportunities within distributed solar energy are of great importance to Statkraft. The combination of our core competence in energy management and Bharat Light & Power’s local knowledge and expertise, constitutes a solid platform for value creating services to industrial and commercial customers in India”.

About Bharat Light & Power Pvt Ltd:

BLP is one of the leading renewable energy generation and technology companies in India. It has 3 verticals. BLP Energy, a JV with Enel Green Power builds, owns and operates utility scale renewable energy power plants to generate clean energy through wind and solar technologies. SBSS, a JV with Statkraft provides distributed solar solutions to large corporates, industries and institutions in India. Lastly, BLP through its Orion platform provides monitoring, reporting and predictive intelligence solutions to global utilities through its control centre in Bangalore by leveraging big data, the cloud, mobility and advanced analytics. This enables Orion’s customers to build smarter operations, better real time visualization and improve operational efficiency of the renewable power plants.