Technique Solaire group formalized the acquisition of a ground-mounted solar power plant project from Jakson Group. The 34 MWp plant is located in Mahoba, in Uttar Pradesh and produces 49,500 MWh of green electricity per year.
The plant was commissioned in 2017 and benefits from a power purchase agreement with Uttar Pradesh Power Corporation Limited.
“We hope that this transaction is just the beginning of a promising partnership with the Jakson Group, which now wants to focus on the development of new photovoltaic power plants and redeploy its own funds on projects under construction,” says Manu Bishnoi, India Director of Technique Solaire.
With this acquisition Technique Solairs Indian fleet of PV plants in operation is reached to 68 MWp. The company’s ambition is to have 1 GWp of solar photovoltaic plants in operation by the end of 2024.
This installation is the first external growth operation through the acquisition of a solar power plant in operation, a path that the group wishes to pursue, in France and internationally, in order to achieve its ambitious objectives, said the statement.
“We are pleased to have finalized this transaction, which marks the launch of our investment platform in India. 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” explains Edouard Dazard, Director of Finance, Technique Solaire.
India’s target is to have 450 GW of installed renewable energy capacity by 2030 – about 280 GW (over 60%) is expected from solar. The government’s initiatives to promote the development of solar energy are numerous, notably with the creation of the International Solar Alliance (ISA), in partnership with France. Technique Solaire continues to grow, with more announcements to come very soon, said the company press release.