The 50:50 JV, dubbed Statkraft BLP Solar Solutions (SBSS), will provide both rooftop and ground mounted solutions with superior technology to industrial and commercial consumers.
SBSS will also provide different financing structures, which will allow consumers to convert their solar CAPEX into per unit cost of solar energy. This will enable consumers to reduce their carbon footprint and lower energy costs.
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."
BLP said that the partnership will help in achieving Indian government’s goal to have round-the-clock power supply to all by 2019.
Commenting on the JV, BLP CEO Tejpreet S. 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."
Earlier this year, Xi’an Longi Silicon Materials also agreed to invest Rs16.7bn ($251.6m) in the Indian solar sector by building a solar cell and module manufacturing facility in Andhra Pradesh.
In August, Enel Green Power acquired a majority stake in BLP Energy, the utility scale wind and solar subsidiary of BLP Group in a €30m deal.
Image: Statkraft BLP Solar Solutions will provide both rooftop and ground mounted solutions. Photo: courtesy of Serge Bertasius Photography / FreeDigitalPhotos.net.
