Amplus Signs Rs 2,700 cr Solar Energy Deal with Andhra, Maharashtra

The rooftop solar energy company has signed an MoU with Andhra Pradesh government to install 200 MW solar capacity with investment of Rs 1,200 crore.

Gurgaon-based Amplus Energy Solutions Pvt. Ltd has inked a pct with the state governments of Maharashtra and Andhra Pradesh  to build solar projects with an investment of Rs 2,700 crore.

The rooftop solar energy company has signed an MoU with Andhra Pradesh government to install 200 MW solar capacity with investment of Rs 1,200 crore. The project is expected to create 400 jobs in the state, Amplus said in a statement.

Further, the company has signed an MoU for 300 MW solar capacity with Maharashtra, of which 250 MW would be for ground-mounted captive and 50 MW for rooftops across the state.

The move is expected to generate employment for 150 people and will require an investment of Rs 1,500 crore.

Commenting on the deals, Amplus Energy, MD and CEO, Sanjeev Aggarwal said, “Our agreements with Maharashtra and Andhra Pradesh governments will help us expand in these states and ramp up our business and achieve our solar power targets.”

Last month, the company has signed an MoU with the UP government to invest Rs 2,200 crore for 500 MW solar capacity.

For funding its projects, the company had partnered with Yes Bank to co-finance and develop projects in the solar energy sector in India.

Source: PTI