IL&FS Energy, a subsidiary of IL&FS has partnered with SB Energy (with investments from SoftBank Group International), to jointly develop grid connected solar parks.
IL&FS Energy and SB Energy have agreed to facilitate the development of solar parks with aggregate capacity of over 20GW by 2025.
SB Energy has won bids for setting up 1,400 MW solar projects in India including 300 MW at the Bhadla III Solar Park developed by “Saurya Urja Company of Rajasthan Ltd”, a JV of IL&FS Energy and Government of Rajasthan (GoR). The development of solar parks will involve IL&FS Energy taking up the development of solar park infrastructure like substations, grid connectivity and arrangements for long term access for power evacuation in addition to other value added services. SB Energy will take up the installation, EPC and financing of solar projects at these locations. This arrangement will therefore result in a “plug and play” solution for SB Energy.
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