Norway's Statkraft forms solar power partnership with India's BLP

Two leading renewable energy companies, one from Norway and the other from India, have agreed to combine forces to provide improved solar power solutions in India.

Norwegian company Statkraft, which is Europe's biggest producer of sustainable energy, is already well established in India's hydropower sector.

The company recently entered into a partnership with Bharat Light and Power (BLP) to offer distributed solar energy solutions. The partnership is a 50-50 joint venture called Statkraft BLP Solar Solutions Private Limited ("SBSS").

They will provide rooftop and ground mounted solutions based on prime technology and execution. In addition, SBSS will provide a variety of financing structures.

The two companies intend to make it more cost-effective and more sustainable to be a user of solar power for industrial and commercial consumers.

By 2019, the Indian Government plans that every household will have power 24/7.

"This partnership brings together two entities committed to support the government's renewable energy objectives," said BLP CEO Tejpreet S. Chopra.

Statkraft CEO Christian Rynning-Tønnesen said he was optimistic about exploring new prospects within distributed solar energy.

"The combination of our core competence in energy management and Bharat Light and Power's local knowledge and expertise, constitutes a solid platform for value creating services to industrial and commercial customers in India," he added.