The 5.5MWp solar power plant has been commissioned with an estimated investment of approximately $4.3 million and will provide energy to the 13,500 inhabitants in Uttarakhand.
Technique Solaire commissioned its first project in India, in the state of Uttarakhand. The solar power plant, with a total power of 5.5 MWp, was awarded a state tender to JLTM Energy India Pvt. Ltd., an Indian subsidiary of Technique Solaire, in October 2015. This installation represents an investment of approximately €4 million ($4.3 million) and produces the equivalent of the local consumption of 13,500 inhabitants. We have developed a unique model in which local village farmers are made stakeholders in the project and they benefit from yearly income from the plant. After many months of work for securing the land and financing the project, the works on the project were finished in less than three months.
The commissioning of this solar power plant confirms the Group’s strategy and it’s position among the leading French players to succeed in setting up projects in India. Technique Solaire group initiated its international development strategy with the creation of it’s subsidiary, JLTM Energy India Pvt. Ltd., in 2014. This first project in India demonstrates the ability of Technique Solaire and its team to implement solar projects in a complex and highly competitive international environment, from the development phase to the operational phase.
Within the framework of the financing of this project, Technique Solaire was able to rely on the support of its historical financial partners (BPI France and Crédit Agricole).
With this first success, and the ambition of the Indian government to develop solar energy with a goal of 100 GW by 2022, Technique Solaire intends to develop more than 200 MWp of projects in India in the coming 2-3 years.
At the same time, the group continues to study its development strategy in one or two more countries other than India.