Uttar Pradesh will soon have a 70 MW open access solar photovoltaic (PV) project. The project, which falls under Uttar Pradesh’s Open Access Program, will be developed by SunSource Energy.
The project was allocated under the UPERC CRE Regulation, 2014. The power generated by this project will be sold through long-term power purchase agreements (PPAs) to commercial and industrial customers. The project is expected to be launched by Prime Minister Narendra Modi in Kanpur on March 8, 2019.
Once commissioned, it will be one of the largest open access solar PV power projects in Uttar Pradesh, according to the company. The project is expected to offset over 85,000 tons of carbon emissions every year. Uttar Pradesh is the most populous state in India and has a large peak energy supply deficit, according to the Central Electricity Authority.
This project will help the industries and commercial establishments to reduce their energy bills and meet their Renewable Purchase Obligation (RPO) targets.
In February 2018, SunSource Energy had raised capital from Neev Fund for the development of solar projects across various states of the country. Neev fund is the outcome of a partnership between the State Bank of India (SBI) and the UK’s Department for International Development (DFID). It is an infrastructure private equity fund focused on creating sustainable development. The fund aims to invest in low income/developing states of the country with a focus on infrastructure sub-sectors such as renewable energy.
From its base in India, SunSource has expanded to establish an international presence with headquarters in India and offices in the United States, Philippines, and Singapore. Since its inception in 2010, the company says it has delivered more than 150 solar power projects across 24 states in India and six countries globally. The company had earlier signed an MoU with the government of Uttar Pradesh to develop 200 MW solar projects in the state.