MYSUN Receives 140 MW Solar Order from UPPTCL

Rooftop solar firm MYSUN has bagged 140-megawatt (MW) open-access solar power projects from the Uttar Pradesh Power Transmission Corp Ltd (UPPTCL), according to a company statement.

“MYSUN, has been allocated 140-MW solar projects under the captive/open access mode by the Uttar Pradesh Power Transmission Corporation Ltd (UPPTCL),” the company said in a statement.

The allocation process saw active participation from most of the large solar developers from all over the country, the firm added.

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It will promote the use of solar energy in Uttar Pradesh for large industries and corporations.

The latest round of allocation saw connectivity approvals being granted for central, western and eastern parts of UP. Overall, about 1.5 gigawatts (GW) of grid sub-station capacity was put up for allocation. MYSUN will develop these projects across multiple districts primarily in parts of western Uttar Pradesh.

MYSUN founder and CEO Gagan Vermani said in the statement, “The allocation of this 140 MW is a commitment from our side to provide clean, reliable and affordable solar power to large energy consumers like industries, data centers, corporate parks and builders in Uttar Pradesh..”

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Under its recently launched asset vehicle MYSUN+, the company is expanding its presence across states like Uttar Pradesh, Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Tamil Nadu and the national capital region

The company is already in early-stage development of more than 220 MW of projects under the captive/ open access mechanisms.

In July this year, MYSUN partnered with TATA Cleantech Capital Ltd (TCCL), a joint venture between Tata Capital Limited and a US company International Finance Corporation, to raise Rs 15 crore in debt funding for its solar portfolio expansion.

This term loan was secured so as to fund the rooftop solutions company’s existing projects, with the credit line being used to develop its pipeline projects.