Astonfield inks deal with Grupo for Rajasthan project

Astonfield Renewable Resources has signed an agreement with Spanish firm Grupo T-Solar Global SA for setting up a solar power project in Rajasthan.

By PTI | Updated: Jun 02, 2011, 12.24 PM IST

NEW DELHI: Astonfield Renewable Resources on Thursday said it has signed an agreement with Spanish firm Grupo T-Solar Global SA for setting up a solar power project in Rajasthan.

"Astonfield Renewable Resources (Astonfield) has entered into a strategic partnership with Grupo T-Solar Global SA (T-Solar) for setting up 5-MW solar PV project in Osiyan, Rajasthan," an official statement said.

Touted to be the first long-term strategic collaboration between the two companies, Astonfield will deploy T-Solar's thin film modules under the project.

The project will be one of the first utility-scale solar power plants commissioned under the Jawaharlal Nehru National Solar Mission (JNNSM) and is expected to be commissioned by October, 2011.

Construction on the project has begun and once operational, it is expected to generate at least 8,500 megawatt hours (MWh) per year, sufficient to power the equivalent of over 13,000 Indian households.

T-Solar's strategic investment and project debt financing is in place from leading Indian banking institutions such as State Bank of India and the Export-Import Bank of India.

Schneider Electric, a leading global engineering, procurement and construction company has been retained as project EPC manager.

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