Renewable energy company SunEdison has inked a long-term power purchase agreement (PPA) with Tata Power Delhi Distribution Limited (TPDDL) the largest utility in India that will deliver 180 MW of solar PV power to the citizens of New Delhi.
The agreement will see SunEdison develop solar power plants in Madhya Pradesh, delivering solar electricity that will be purchased by TPDDL for the next 20 years. TPDDL services more than six million people in Indias capital city, and this arrangement forms part of the utilitys plans to increase its share of renewable energy in order to guard against the power outages that regularly afflict New Delhi.
SunEdison Services will oversee all operations and maintenance work on the solar plants, which will generate 375,000 MWh of power per year, providing enough clean electricity to mitigate the effects of 300,000 metric tons of carbon dioxide.
"This 180 MW of solar power demonstrates that good things happen when you bring two of Indias largest energy brands together," said SunEdison president of Asia-Pacific and Sub-Saharan Africa Pashupahty Gopalan. "The people of New Delhi will benefit from clean, reliable and affordable energy as result of this project which will make a direct and powerful contribution towards Indias goal of generating 100 GW of solar power by 2022."
Busy week for SunEdison
This PPA deal is just one of a handful of headline-grabbing moves this week by the U.S.-based renewable energy firm. On Monday SunEdison announced that it is to acquire via its yieldco vehicle TerraForm Power Vivint Solar, a leading player in the U.S. residential solar space. This move was welcomed by the entire domestic solar industry, as it served to underline the confidence currently coursing through the residential and small commercial sector.
On Tuesday, SunEdison also revealed that it had purchased leading British energy solutions provider Mark Group, thus establishing a direct sales channel in the U.K. for SunEdisons residential and commercial ventures.
"By establishing a direct sales channel in the U.K., we are augmenting our existing installation partner network to meet the growing demand for solar in this market," said SunEdison SVP of residential and small commercial Vikas Desai. "As we rapidly scale our business globally, we see the Mark Group expanding SunEdisons expertise and bandwidth in the consumer energy efficiency market; a excellent complement to our residential and commercial distribution solar business."