Amplus Energy Solutions today announced entering into a pact with private sector lender Yes BankBSE 1.57 % for strategic tie-up to co-finance projects in the solar energy space in India.
The memorandum of understanding (MoU) was signed at International Solar Alliance pavilion at the World Future Energy Summit, Abu Dhabi, the company said in a statement.
“Yes Bank will look for bankable projects to invest in and Amplus will develop them,” the company said.
Under the partnership, the total projects capacity is likely to be up to 1,000 mw under the partnership, it said adding that these projects would be developed by Amplus by 2023.
Speaking about the partnership, Amplus Energy Managing Director and CEO Sanjeev Aggarwal said, “Our partnership with Yes Bank is a perfect match for solar projects in India as we can provide installation, operational and maintenance expertise and Yes Bank can fund eligible projects, it provides a 360 degree offering for firms looking to install solar plants.”
Source: Economic Times