As per the deal, the joint venture, known as Statkraft BLP Solar Solutions Private (SBSS), will be responsible for providing both rooftop and ground mounted solutions with advanced technology to industrial and commercial consumers.
A variety of financing structures will also be provided by the partners to enable consumers to convert solar CAPEX into an attractive per unit cost of solar energy in order to reduce carbon footprint and energy costs.
BLP CEO Tejpreet Chopra said: "This partnership brings together two entities committed to support the government’s renewable energy objectives.
"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.
Bharat Light & Power expects the deal to support the country’s aim to supply 24/7 power to all by 2019.
By 2022, the Indian government aims to have 100GW of solar and 60GW of wind installed capacity.
Statkraft CEO Christian Rynning-Tønnesen said: "Exploring new business opportunities within distributed solar energy are of great importance to Statkraft.
"The combination of our core competence in energy management and Bharat Light & Power’s local knowledge and expertise, constitutes a solid platform for value creating services to industrial and commercial customers in India."
Image: Indian aims to have 100GW of installed solar capacity by 2022. Photo: courtesy of Naypong / FreeDigitalPhotos.net.
