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TEPSOL Projects (TEPSOL), a joint venture between Think Energy and EverStream Capital has consolidated its position in the Indian solar space. The company recently bagged another 80 MW of solar projects from Karnataka Renewable Energy Development Ltd (KREDL) in Karnataka.
With a current portfolio of over 500 MW of ground mounted solar PV projects and a pipeline of around 500 MW, Think Energy has emerged as major player over the last 2-3 years.
The company’s current portfolio includes 104 MWp of operational ground mounted solar PV projects in Telangana, 60 MWp of under construction ground mounted solar PV projects in Karnataka, and 300 MWp of ground mounted solar PV projects allocated and under development in the states of Maharashtra and Karnataka.
Ravishankar Tumuluri, Managing Director and Chief Executive Offiver (CEO), TEPSOL, said, "The initiatives taken by government to support capacity building in the solar space is commendable. Having invested across geographies, we are of the view that India is one of most attractive markets given the policy support and vision of the Government. We are pleased to partner with government institutions and central/state departments to deliver energy cost savings and reducing their carbon footprint. We are also participating in the delivery of competitive solar PV solutions to clients in the commercial and industrial space, in geographies where the government is supporting such initiatives through appropriate win-win regulatory mechanisms.”
TEPSOL has committed to contribute to country's quest for energy security through generation of on-site electricity through solar rooftop installations. It has commissioned close to 11,000 kW of rooftop solar photo-voltaic projects over 100 sites, spread across the three states of Maharashtra, Andhra Pradesh and Karnataka in the current calendar year.
The company said it is in the process of building and commissioning another 30,000 KWp of rooftop projects over 200 sites, spread across multiple states in the next six months. These projects intend to reduce the carbon footprint of and deliver economic benefits to the government departments.
Sandip Agarwal, Partner & CEO, Think Energy, said, “Although our portfolio is skewed in favour of large solar parks, we are looking to accelerate our pace in solution-based grid connected and off grid installation both with government and private consumers. We shall continue to grow in terms of capability and deployment of solar solutions and work on innovative technologies and product, to support the National Mission of achieving energy security.”
Paul Huelskamp, Director, EverStream Capital, said “We will leverage the collective relationships and resources of our firm to help scale this business, and we are highly confident in Think Energy’s market knowledge and execution capabilities.”
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