Chennai, 4 July 2023: Cleantech Solar, a leading provider of renewable energy solutions to corporations in India and Southeast Asia, announces the signing of long-term power purchase agreements (PPAs) with leading Commercial & Industrial (C&I) customers in the state of Tamil Nadu to develop ~60 MWp of open access solar PV projects. These projects are being built at the developer’s state-of-the-art solar park in Tirunelveli district. Power from these projects will be procured by the consumers on a captive basis and will power their manufacturing operations in the state. The projects are being developed for customers across diverse sectors such as automotive, chemicals and education.
With these projects, Cleantech Solar further solidifies its position as the leading solar developer in Tamil Nadu with over 15 blue chip customers and projects totalling ~300 MWp across operations and construction stages.
The long-term partnerships between Cleantech Solar and the top-tier C&I customers are expected to generate approximately 2,112 GWh of clean energy during the system’s lifetime, amounting to a reduction of 1,932 kilotonnes of CO2 emissions. Procuring cost-effective renewable energy from Cleantech Solar’s solar parks will enable the industry leaders make significant strides in their decarbonisation efforts whilst reducing operating costs.
Mr. Sachin Jain, Chief Executive Officer of Cleantech Solar, said:
“It is wonderful to partner with the world’s leading C&I customers, enabling them to make the switch to green energy. Tamil Nadu has been a frontrunner in renewable energy development and our state-of-the art solar park in the state will provide clean energy to our customers, helping them decarbonise and achieve their green energy targets. In addition to this, diversifying energy sources will help these corporations achieve stability of energy supply whilst providing significant savings on the cost of electricity. We are honoured to be part of this green energy transition and look forward to building on these partnerships further!”
About Cleantech Solar (www.cleantechsolar.com):
Cleantech Solar is a pan-Asia supplier of renewable energy to corporates, combining the capabilities of a global player with responsiveness and agility.
Headquartered in Singapore, Cleantech Solar has numerous solar and wind projects across India and Southeast Asia, covering approximately 1GWp of assets in operations, construction and development stages. This includes installations in India, Singapore, Cambodia, Indonesia, Malaysia, Thailand and Vietnam.
The company is backed by long-term strategic shareholders – Keppel Corporation, Keppel Asia Infrastructure Fund and Shell Singapore Pte. Ltd.