ZT Solar India, a subsidiary of Swiss firm Talesun Solar Switzerland A.G. and Delhi-based solar asset developer EnergyX formed a joint venture to set up 1,000 MW solar projects over the next few years in India.
Talesun Solar Switzerland is an arm of China based Suzhou Talesun Solar, a solar modules manufacturer of 5 GW and project development company with an existing 6,000 Mw of installed PV plants across the globe.
The joint venture is looking to develop 1,000 Megawatt of solar assets worth Rs 5,000 Crore by 2022.
“With our cross continental experience in project development and EPC and in-house supply of solar panel, we are confident that we will carve a niche in the Indian solar market,” said John Martin Thomas, Managing Director, Talesun Solar Switzerland AG & chairman, ZT solar India Pvt Ltd
“The JV will provide us with an edge on complete project development and the control over crucial project timeline,” Ajay Pratap Singh, CEO of EnergyX said.
EnergyX said it is working closely with State Bank of India (SBI) on projects under a $650 million credit facility extended by the World Bank for development of solar projects specifically for Industrial consumers.
The company is also planning a foray into EV bus market.