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Cleantech Solar Reaches Commercial Operation for Maiden Virtual Power Purchase Agreement
Cleantech Solar has announced that it has commissioned a 625 kWp rooftop solar photovoltaic (PV) system at the manufacturing facility of Yachiyo India Manufacturing Private Limited in Bhiwadi, Rajasthan.
Cleantech Solar said that the project was executed in record time, taking just 59 days from PPA signing to commissioning, including obtaining all regulatory and net metering approvals. All this was accomplished whilst adhering to the highest HSSE standards.
Cleantech Solar is one of the leading providers of renewable energy solutions to corporations in India and Southeast Asia.
Cleantech Solar calls it a long-term partnership with Yachiyo India and the solar project is expected to generate approximately 11,605 MWh of clean energy, which is equivalent to a reduction of over 10,561 tonnes of CO2 emissions. The fully operating PV system has been funded, designed, built, and will be operated and maintained by Cleantech Solar across the term of the agreement.
Raju Shukla, Founder and CEO of Cleantech Solar, said, “An increasing number of companies are making the switch to clean, renewable energy and we are immensely happy to partner with Yachiyo India, helping them power their operations with our high-quality solar solution. Cleantech Solar is committed to providing top corporates with reliable, efficient and cost-competitive solar solutions.”
Shukla also added that the solar power plant will help Yachiyo India to achieve their sustainability goals, whilst improving their bottom line and thereby contributing to profitable, long-term growth.
Singapore headquartered Cleantech Solar is a pan-Asia supplier of renewable energy to corporates. The company has developed numerous solar power plants in India and Southeast Asia, covering over 600 MW across the various stages of operations, construction and development.
It was reported in December that renewable energy players were in separate discussions to acquire majority stakes in Cleantech Solar. These were Indian platforms O2 Power, Fourth Partner Energy, Eversource Capital and Singapore based Keppel Corp. The proposal for the acquisition of majority stake was projected at Rs 3000 crore.