Radite Energy Bags 1.14 MW Solar Power Order From Amplus Solar

The Gurgaon based solar solutions provider is responsible for the complete design, supply, construction and commissioning of the plant which is being developed at the food processing unit of SSDPL in Baramati, Pune.

Radite Energy, a complete turnkey solution provider for solar energy in India, has secured 1.14 MW project in Pune from Amplus Solar.

The Gurgaon based solar solutions provider is responsible for the complete design, supply, construction and commissioning of the plant which is being developed at the food processing unit of SSDPL in Baramati, Pune. Radite has been provided with a time period of 30 days to complete the work on the project.

In November 2018, the company secured a 65 MW project in Bhadla, Rajasthan from Azure Power. The project was the fourth such project which Radite Energy had bagged from Azure power. The previous projects were in Andhra Pradesh, Gujarat and Karnataka.

In October, the company bagged an order for 26 MW Solar Project from Renew Power KTK Pawagada. The project at the time was one of the biggest order that the company has secured from Renew Power KTK Pawagada. As per the deal, Company is responsible for Electrical commissioning and mechanical work for the entire 26 MW project.

More recently, Petroliam Nasional Berhad (Petronas), Malaysia’s fully integrated oil and gas major, has entered into an agreement with I Squared Capital, a leading global infrastructure investor, to acquire 100% interest in Amplus (M+) Energy Solutions Pte Ltd, a leading Singapore-based company with a portfolio of distributed, renewable energy assets in Asia.

The Move by Malaysia’s Petronas, itself a $60 billion-plus behemoth with a $13.2 billion bottom line in 2018, is a huge vote of confidence in India’s renewable sector. At Rs 2700 crores, the valuation also seems to be in line with previous deals in the solar and renewables sector.