French developer Technique Solaire group has completed the acquisition of a 34 MWp ground-mounted power plant project from Jakson Group. The plant, located in Mahoba of Uttar Pradesh, produces 49,500 MWh of green electricity per year, equivalent to the local consumption of 78,383 inhabitants.
“We hope that this transaction is just the beginning of a promising partnership with the Jakson Group, which now wants to focus on the development of new PV power plants and redeploy its own funds on projects under construction,” said Manu Bishnoi, India Director of Technique Solaire.
The plant was commissioned in year 2017 and benefits from a power purchase agreement with Uttar Pradesh Power Corporation Limited.
With this acquisition, Technique Solaire now has 68 MWp of operational PV power plants in India. The developer targets to reach 1 GWp of solar PV plants in operation by the end of year 2024.
For the group, the Uttar Pradesh installation is the 1st external growth operation through the acquisition of an operating solar plant, a path that the group wishes to pursue, in France and internationally, to achieve its ambitious objectives.
“[This transaction] marks the launch of our investment platform in India. For us, India is a country with high strategic stakes and our objective is to acquire other projects there in order to hold several hundred MWp by the end of year 2024,” said Edouard Dazard, Director of Financing at Technique Solaire.