Swiss firm Talesun Solar Switzerland A.G. is set to foray into the Indian solar power industry with a joint venture with New Delhi-based solar asset developer EnergyX to set up projects of 4000 MW capacity, EnergyX said in a statement.
Talesun Solar Switzerland is an arm of Italy-based Talesun Energy, a solar development company with an existing developed portfolio of 6000 MW across the globe.
The joint venture is looking to develop 4000 MW of solar assets worth Rs.20,000 crore by 2022, according to the statement.
“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.
Energy has commissioned solar projects of 12 MW capacity. “The JV will provide us with an edge on complete project development and 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.