Solar power player CaptureSolar gets $125m funding from Cyprus

Image
Press Trust of India Mumbai
Last Updated : Jun 22 2014 | 11:10 AM IST
Solar power producer CaptureSolar Energy (CSEL) has raised USD 125 million from the Cyprus-based photovoltaic solar solutions provider Concept Solutions & Innovation to set up a plant in Pune.
"We plan to set up 90 MW solar park in Pune. Out of this, we have received funding of USD 125 million from Concept Innovation & Solution for 75 MW," CSEL chief executive officer Raju Bhosale told PTI.
Concept Solutions will not only provide finance but also technology solutions for the project, he added.
"Concept Solutions is a mandate holder of Danish turnkey PV firm DanSolar International, which already has a technology tie-up with CaptureSolar," he said.
Bhosale further said, "a collaborative approach with our technical partners and investors will help us deliver a cost effective PV solution."
The Pune-based company expects the solar park to be operational and ready to supply electricity by next March.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 22 2014 | 11:10 AM IST

Next Story