Business

UK’s ThomasLloyd Acquires Major Stake in India’s SolarArise

ThomasLloyd’s investment is expected to support the company’s expansion of its solar energy capacity by approximately 250 megawatt (MW). (Photo: LUDOVIC MARIN/AFP/Getty Images).

By: Radhakrishna N S

UK’s ThomasLloyd has acquired a significant stake in India’s Delhi-based SolarArise India Projects Pvt Ltd. SolarArise currently owns and operates 130 MW of grid-connected solar power projects in India. ThomasLloyd’s investment is expected to support the company’s expansion of its solar energy capacity by approximately 250 megawatt (MW). These projects will be a combination of government and state sector projects as well as selected private sector projects, benefiting from long-term power purchase agreements. ThomasLloyd will join the existing founding shareholders, the European Initiative on Clean, Renewable Energy, Energy Efficiency and Climate Change related to Development SICAV SIF in relation to…

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