Renewable energy firm Bharat Light & Power (BLP) recently said it has entered into equal joint venture with Norwegian power company Statkraft for providing distributed solar energy solutions in India. Statkraft BLP Solar Solutions Pvt Ltd (SBSS), the 50:50 JV, will provide industrial and commercial consumers with both rooftop and ground mounted solutions with world class technology and execution. SBSS will provide a variety of financing structures, whereby consumers can convert their solar capex into an attractive per unit cost of solar energy, enabling consumers to reduce their carbon footprint and lower energy costs. “This partnership brings together two entities committed to supporting the government’s renewable energy objectives,” BLP CEO Tejpreet S Chopra told agency. “By providing distributed solar energy solutions on a per kWh basis, storage and micro grid solutions, we intend to transform the way power is generated and consumed in India. This will go a long way in supporting the government’s mission of 24/7 power for all by 2019,” Chopra said.
The government has set a target of achieving 100 GW of solar and 60 GW of wind based power generation capacities by 2022. It is estimated that 40 GW will be distributed solar energy. The partnership between Statkraft and BLP is committed to contribute to the clean energy drive, the company said, adding that it intends to bring to India the latest advancements in renewable technology, competitive financing structures, low cost solar energy, and global best practices in engineering design and project development. BLP is a renewable energy generation and technology firm. It has three verticals. The company is focusing on the wind and solar sectors. It has about 800 MW of wind farms in operation and under development.