HSA Advocates successfully represented Statkraft AS in forming a 50-50 joint venture with Bharat Light & Power (BLP) to deploy distributed solar energy in India.
Norwegian state-owned utility Statkraft AS and Indian renewable energy company Bharat Light and Power Pvt Ltd (BLP) have set up a 50-50 joint venture to offer distributed solar energy to industrial and commercial customers in India.
Partners Aparajit Bhattacharya and Avirup Nag acted for Statkraft AS. The transactional team included partner Harvinder Singh, senior associate Devika Chadha and associate Aaradhana Tomar.
The joint venture called Statkraft BLP Solar Solutions Private Limited (SBSS) will provide both rooftop and ground mounted solutions with world class technology and execution. In addition, SBSS shall provide a variety of financing structures, whereby consumers can convert their solar CAPEX into an attractive per unit cost of solar energy, enabling consumers to reduce their carbon footprint and lower energy costs.
This partnership is committed to contribute to the clean energy drive and intends to bring to India the latest advancements in renewable technology, competitive financing structures, low cost solar energy, and global best practices in engineering design and project development.