Turbine maker Suzlon signs JV with CLP India for two solar projects in Maharashtra

New Delhi, Sep 11 (PTI) Wind turbine maker Suzlon Tuesday announced a joint venture (JV) with CLP India for two solar projects with of 50 megawatts (MW) and 20 megawatts (MW) in Dhule, Maharashtra.

"As per the agreement signed between CLP India and Suzlon Group on September 10, 2018, CLP India has agreed to acquire 49 percent stake in Gale Solar farms Ltd and Tornado Solar farms Ltd, two special purpose vehicles (SPV) set-up by Suzlon," Suzlon said in a BSE filing.

CLP India has the option to acquire the balance 51 percent stake in the future, it added.

CLP India is the wholly-owned subsidiary of Hong Kong Stock Exchange-listed CLP Holdings Ltd. It is one of the largest foreign investors in the Indian power sector with a total committed investment of over Rs 14,500 crore.

Shares of Suzlon Energy were trading 0.70 percent higher at Rs 7.17 apiece on BSE.