Amplus Solar, a member of Malaysia’s Petronas group, has acquired 17 Sterling & Wilson 7.2 megawatt (MW) solar power plants.
Amplus Solar already has 800 MW + projects in the distributed solar sector and the agreement will expand their portfolio in many states including Haryana, Punjab, Madhya Pradesh, Rajasthan, Maharashtra, Telangana, and Karnataka.
The company did not disclose the size of the contract.
Sterling & Wilson’s 17 projects serve 13 of the world’s leading industrial, commercial, and institutional clients.
“The addition of these assets to our portfolio furthers our commitment to promote the growth of renewable energy in India and provide outstanding service to our ever-increasing customer base. We remain open to the acquisition of assets that meet our standards and add Amplus’ operational excellence to these assets,” said Sanjeev Aggarwal, CEO & MD of Amplus Solar.
Sterling & Wilson have been launching their assets to repay loans. Last month, it sold Adani Green Energy a 75-megawatt solar project in Telangana for Rs 44.6 crores.
Sterling & Wilson promoter Khurshed Daruvala also recently sold about 5 percent of the company’s $200 million stakes.
Source: Business Standards