Wind turbine maker Suzlon Tuesday announced a joint venture (JV) with CLP India for two solar projects with of 50 megawatt (MW) and 20 megawatt (MW) in Dhule, Maharashtra.
"As per the agreement signed between CLP India and Suzlon Group on September 10, 2018, CLP India has agreed to acquire 49 per cent stake in Gale Solarfarms Ltd and Tornado Solarfarms Ltd, two special purpose vehicles (SPV) set-up by Suzlon," Suzlon said in a BSE filing.
CLP India has the option to acquire the balance 51 per cent stake in the future, it added.
CLP India is the wholly-owned subsidiary of Hong Kong Stock Exchange listed CLP Holdings Ltd. It is one of the largest foreign investors in the Indian power sector with a total committed investment of over Rs 14,500 crore.
Shares of Suzlon Energy were trading 0.70 per cent higher at Rs 7.17 apiece on BSE.
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