Explorer

Amplus partners with Yes Bank for solar power tie-up

New Delhi [India], Jan 18 (ANI): Amplus Energy Solutions has signed an MoU with India's leading bank Yes Bank for a strategic tie-up to co-finance projects in the solar energy sector in India.

Yes Bank, which has been focussing on funding green energy projects in India, also announced that it will mobilise USD one billion by 2023 for financing solar energy projects in India and USD five billion till 2030.

The total projects capacity under the partnership of Amplus Energy Solutions and Yes Bank is expected to be up to 1,000 MW.

"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," said MD and CEO, Amplus Energy, Sanjeev Aggarwal.

The agreement was signed at International Solar Alliance pavilion at the World Future Energy Summit, Abu Dhabi.

World Future Energy summit, which is being held in Abu Dhabi, UAE from January 15 to 18, is focusing on renewable energy.

UAE has set a target to meet its 44 percent energy needs by renewable energy by 2050, majority of that by solar energy.

In December 2017, Yes Bank and European Investment Bank announced that they have created a fund of USD 400 million to fund solar and wind projects in India.

They have already identified eligible solar projects in Karnataka, Telangana, Maharashtra and Rajasthan.

The Gurgaon-based Amplus is also diversifying in new avenues such as battery storage, energy efficiencies, smart cities, and concentrated solar power technologies among others. (ANI)


This story has not been edited. It has been published as provided by ANI

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

Ukraine Talks Zelenskyy’s Peace Formula Implementation, India Remains Silent
Ukraine Talks Zelenskyy’s Peace Formula Implementation, India Remains Silent
'Have To Save Our Families': PM Modi Blasts DMK Over Drug Busts In TN, Says 'BJP Enough To Fight Menace'
PM Modi Blasts DMK Over Drug Busts In TN, Says 'BJP Enough To Fight Menace'
It's Kejriwal Today, Govt Will Jail Mamata, Stalin, Vijayan Tomorrow: Delhi Minister Atishi At ABP Shikhar Sammelan
It's Kejriwal Today, Govt Will Jail Mamata, Stalin, Vijayan Tomorrow: Delhi Minister Atishi
Mukhtar Ansari Death: UP Court Orders Probe After Son Claims Father 'Poisoned' In Jail — Top Points
Mukhtar Ansari Death: UP Court Orders Probe After Son Claims Father 'Poisoned' In Jail — Top Points
Advertisement
for smartphones
and tablets

Videos

Emotional Yet Fun Video Featuring Kapil Sharma, Tabu & Rhea Kapoor, Sharma To Star In 'Crew'ABP Shikhar Sammelan 2024: Anurag Thakur's counterattack to opposition over electoral bondsABP Shikhar Sammelan 2024: Why did BJP canceled tickets of more than 100 sitting MP's?|Anurag ThakurABP Shikhar Sammelan 2024: Anurag Thakur's gets angry on TMC-Congress over remarks on Kangana Ranaut
Embed widget