Amplus Energy Solutions Private Limited, an Indian solar power developer and a portfolio company of I Squared Capital, has acquired the portfolio of commercial and industrial rooftop projects of SunEdison India. Spread across India, the facilities provide on-site renewable power to Indian and global corporate customers.
Amplus recently partnered with Walmart to provide solar power at fifteen Best Price Modern Wholesale stores across five states. In April 2016, Amplus commissioned India’s largest single-location rooftop solar installation for captive use of 4,000 kW for Yamaha Motors.
Amplus has partnered with Indian and multi-national companies like Dominos, Hilton Hotels, Fortis Hospitals and others to meet their sustainability and carbon-reduction objectives. The acquisition adds relationships with global companies including Intel, Amway, Standard Chartered Bank, Whirlpool and Delhi Metro among others and will cement Amplus’ position in the commercial and industrial rooftop solar sector in India.
Rooftop solar is expected to grow rapidly from a current capacity of about 525 MW to the Indian government target of 40,000 MW by 2022. The inherent advantages of distributed solar include speedy implementation, no transmission losses and use of “idle spaces,” like factory sheds and building terraces, making it optimal for generating renewable energy, especially in markets like India where land is at a premium.