The New Jersey-based Think Energy and EverStream Capital have entered a joint venture (JV) to develop and/or acquire more than 2,000 MW of solar projects all over India.
The JV will develop solar projects over the next three years and is likely to invest up to USD 300 million in equity capital.
The JV will pursue both ground-mounted and rooftop photovoltaic (PV) assets with commercial and industrial off-takers, as well as select state and central government utility-scale tenders.
The JV had recently participated in the Solar Energy Corporation of India’s (SECI) government rooftop tender and was awarded a project portfolio totalling 23.39 MW. The solar project awarded will be located in Karnataka, Maharashtra, Gujarat and Andhra Pradesh.