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After the significant success of large-scale solar power projects and solar parks, the Indian government is now looking to expand the distributed solar power business
.
Government-owned Energy Efficiency Services Ltd.
(EESL) is planning a joint venture with oil giant Royal Dutch Shell to invest in distributed solar power plants
, according to media reports.
Through the joint venture, EESL plans to invest more than Rs 400 billion ($5.
3 billion) to build 5 GW of distributed solar power
nationwide.
The plants will also have storage facilities and will be established
in rural areas of the country.
According to sources who spoke on condition of anonymity, EESL is in talks with other investors to seek a stake in
the joint venture.
Taking into account the debt-to-equity ratio of 80:20, the joint venture will invest Rs 80 billion ($1.
1 billion).
EESL can hold 51% of the joint venture
.
The company has engaged Investec Capital Services to advise on the transaction and provide a valuation
of the EESL project over the next three months.
EESL currently has 100 MW of operational solar projects in Maharashtra, with another 700 MW in the pipeline
.
The company's ultimate goal is to increase the generation capacity with storage to 5 GW
.
So far, EESL has focused on the development of
e-mobility infrastructure in India.
It has issued a number of tenders
for the procurement of electric vehicles for government agencies and ministries.
EESL has successfully implemented a national program to replace legacy systems with energy-efficient LEDs, which has helped save $2.
5 billion to date
.
After the significant success of large-scale solar power projects and solar parks, the Indian government is now looking to expand the distributed solar power business
.
Government-owned Energy Efficiency Services Ltd.
(EESL) is planning a joint venture with oil giant Royal Dutch Shell to invest in distributed solar power plants
, according to media reports.
Through the joint venture, EESL plans to invest more than Rs 400 billion ($5.
3 billion) to build 5 GW of distributed solar power
nationwide.
The plants will also have storage facilities and will be established
in rural areas of the country.
According to sources who spoke on condition of anonymity, EESL is in talks with other investors to seek a stake in
the joint venture.
Taking into account the debt-to-equity ratio of 80:20, the joint venture will invest Rs 80 billion ($1.
1 billion).
EESL can hold 51% of the joint venture
.
The company has engaged Investec Capital Services to advise on the transaction and provide a valuation
of the EESL project over the next three months.
EESL currently has 100 MW of operational solar projects in Maharashtra, with another 700 MW in the pipeline
.
The company's ultimate goal is to increase the generation capacity with storage to 5 GW
.
So far, EESL has focused on the development of
e-mobility infrastructure in India.
It has issued a number of tenders
for the procurement of electric vehicles for government agencies and ministries.
EESL has successfully implemented a national program to replace legacy systems with energy-efficient LEDs, which has helped save $2.
5 billion to date
.
