 "Amplus Solar buys rooftop solar assets of Sterling & Wilson totaling 7.2 Mw")
Amplus Solar, a member of the Petronas group of Malaysia, has acquired 17 solar rooftop assets of Sterling & Wilson totaling 7.2 megawatt (MW).
Amplus Solar already has 800 MW+ projects in the distributed solar segment and this deal will increase their portfolio in several states including Haryana, Punjab, Madhya Pradesh, Rajasthan, Maharashtra, Telangana and Karnataka.
The company did not disclose the deal size.
The 17 projects of Sterling & Wilson supply to 13 leading industrial, commercial, and institutional customers.
"The addition of these assets to our portfolio furthers our commitment to promote the growth of renewable energy in India and provide outstanding service to our ever increasing customer base. We remain open to acquisition of assets that meet our standards and add Amplus’ operational excellence to these assets,” said Sanjeev Aggarwal, CEO & MD of Amplus Solar.
Sterling & Wilson has been offloading its assets to repay loans. Last month, it sold a 75 megawatt solar power project in Telangana to Adani Green Energy for Rs 446 crore.
Sterling & Wilson's promoter Khurshed Daruvala also recently sold close to 5 per cent stake in the company worth Rs 200 crore.
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