SunSource Energy, a Noida-based distributed solar player, will develop a 70MW solar power project under the Open Access scheme in the state of Uttar Pradesh. Once commissioned, it will be one of the largest open access solar power projects in the State of Uttar Pradesh and will offset over 85,000 tonnes of carbon emissions every year.
The power generated by this project will be sold through long-term power purchase agreements (PPAs) to commercial and industrial customers.
The project is expected to be launched by Prime Minister Narendra Modi, along with various other projects at the mega ground breaking ceremony in Kanpur on March 8.
Uttar Pradesh is the most populous State in India and has a large peak energy supply deficit, according to the Central Electricity Authority. This project will help the industries and commercial establishments to reduce their energy bills and meet their Renewable Purchase Obligation (RPO) targets.
SunSource had earlier signed a memorandum of understanding (MoU) with the Government of Uttar Pradesh to develop 200 MW solar projects in the State.
The company recently won one of India’s largest solar with storage projects in Leh that will supply clean and stable power to the Military Engineer Services—a defence infrastructure development agency in India—by largely substituting their diesel genset power.
SunSource Energy develops, owns and operates solar power projects for its commercial and industrial customers across the globe. Since its inception in 2010, the company has delivered more than 150 solar power projects across 24 States in India and 6 countries globally—including construction of the largest solar rooftop project in Philippines.
With its in-house project finance, EPC, operations and maintenance capabilities, SunSource manages the entire development process of the solar power plant.
The company is an investee of the Neev Fund—a private equity firm backed by State Bank of India and UK’s Department for International Development.