ThomasLloyd acquires significant stake in SolarArise

UKIBC member, ThomasLloyd, today announced their significant stake acquisition in Delhi-based SolarArise India Projects Pvt Ltd.

Following this acquisition ThomasLloyd will become the largest shareholder in the company which currently owns and operates 130 MW of grid-connected solar power projects based in India. This is ThomasLloyd’s first renewable energy investment in India and will enable SolarArise to expand its solar energy capacity by approximately 250 MV – an important contribution in a fast-growing domestic Indian market.

For ThomasLloyd, Nandita Sahgal Tully, Managing Director Merchant Banking, said: “This partnership will fuel our ambitions to tap into the incredible opportunity in the Indian renewables sector and to be involved in the setup of greenfield solar assets across several states. Our strategy has always been to build a portfolio consisting of high quality, medium-sized, grid connected assets with long term diversified PPAs. We look forward to working with the management team and other stakeholders to achieve this target.”

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