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Bharat Light and Power and Europe’s Statkraft Enter a Joint Venture

Bharat Light and Power (BLP), India’s leading renewable energy corporation is joining hands with Europe’s largest producer of Renewable Energy- Statkraft, to formulate a 50-50 joint venture project called the ‘Statkraft BLP Solar Solutions.’ This project would solve the solar energy crises of India.

On Thursday, an official statement was released from the company that ‘Statkraft BLP Solar Solutions’ (“SBSS”) has begun with its solar power generation at its 5 Mega Watts solar plant, located in the state of Karnataka,

Currently, Statkraft BLP Solar Solutions(“SBSS”) is in agreement to sell the solar power generated at its outlet to 3 clients in the state of Karnataka. As per the sources, the three clients included in the agreement are a subsidiary of a giant German industrial company, a five-star Bangalore hotel and a German automobile components manufacturing subsidiary. The company said that these clients would be supplied with the solar power energy under the mechanism of open access.

Statkraft BLP Solar Solutions has a pipeline of solar development projects across the Indian states. The joint-venture is also in talks with several companies who are trying to obtain their solar solutions.

This joint venture project was initially set up in the year 2015, and since then the company has commissioned not just several rooftop projects, but also a 5 Mega Watts solar plant.

SBSS offers its commercial and industrial customers with both ground and rooftop mounted solutions, along with best in class execution and technology.

The company further offers good financing structures, wherein the clients can easily convert their solar-CAPEX into good per unit cost of solar power. This could help the consumers to lessen energy costs and carbon footprints.

Statkraft possesses 300 Mega Watt hydel capacity in a joint venture with the Bhilwara Energy

“This partnership brings together two entities committed to support the government’s renewable energy objectives,” said Bharat Light & Power, Chief Executive Officer, Tejpreet S. Chopra. He further explained telling, “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 is Norway’s State-owned company. The Chief Executive Officer of the company, 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”.

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