MYSUN, a Delhi-based distributed solar company, has secured 140 MW of solar projects under the captive/open access mode in Uttar Pradesh. The projects were awarded by the Uttar Pradesh Power Transmission Corporation Limited (UPPTCL). MYSUN will develop these projects across multiple districts, primarily in Western Uttar Pradesh.
The projects were allocated under UPPTCL’s Open Access scheme to promote the use of solar energy by large industries and corporations in the State. Overall, about 1.5 GW of grid sub-station capacity was put up for allocation. The latest round of allocation saw connectivity approvals being granted for central, western, and eastern parts of UP.
Gagan Vermani, Founder and CEO of MYSUN, said, “The allocation of this 140MW 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. There is a lot of existing demand and with a renewed focus on industrialization in UP, clubbed with an upcoming new international airport, we foresee a huge demand for solar energy from our open-access power projects.”
MYSUN, under its recently launched asset vehicle MYSUN+, is expanding its presence across States like Uttar Pradesh, Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, and Tamil Nadu along with 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. MYSUN+ was launched in February 2021 to develop solar projects under the distributed and open access models with an overall investment of INR 600 crore in the first phase.
In its recent developments, the company has raised INR 15 crore in debt funding from TATA Cleantech Capital Ltd (TCCL), a joint venture between Tata Capital Limited and International Finance Corporation (IFC), Washington DC, USA.
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