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Technique Solaire Acquires 135.4 MWp Solar Power Plants in Karnataka

Producing approximately 215 GWh of green electricity annually, these solar farms contribute significantly, equivalent to powering over 922,000 Indian residents.

November 28, 2023. By Abha Rustagi

The Technique Solaire Group, a leading French solar company, has concluded the acquisition of five ground-mounted solar power plants in Karnataka, southwest India.

The plants, totaling 135.4 MWp, were acquired from ReNew Solar Power Pvt. Ltd, a subsidiary of ReNew Energy Global Plc, a prominent provider of decarbonization solutions in India.

Commissioned between October and November 2019, these photovoltaic plants come with long-term Power Purchase Agreements (PPAs) with various local electricity and gas distribution companies in Karnataka, ensuring a secure tariff.

Producing approximately 215 GWh of green electricity annually, these solar farms contribute significantly, equivalent to powering over 922,000 Indian residents.

This acquisition marks a significant milestone for Technique Solaire, propelling its operational capacity in India to 210 MWp. Technique Solaire aims for an operational capacity surpassing 350 MWp in India by 2025, contributing to their global target of 1 GW.

Manu Bishnoi, Technique Solaire’s India Director, expressed, “This is a significant acquisition for Technique Solaire group, and it demonstrates our ability to successfully conclude M&A deals above 100 MW in India. With 210MWp of solar assets in operation, India is our second most important geography after France. We’re proud to be one of the top three French solar companies on the market. We’ve been in the market for 10 years, and our ambition is to increase our capacity in the coming years…”

Edouard Dazard, the Chief Investment Officer, added, “Thanks to this third acquisition in India in three years, we have now nearly 0.5 GW of PV projects in operation globally. We target to reach 1GW in 2025 (including more than 350 MW in India) and 4 GW in 2030 (including 700 MW in India). We are especially proud to close this deal with ReNew, one of the major independent power producers in India. India has a huge potential for solar projects, and we will continue both to invest significant funds in this country in the coming years and to develop our local team that should exceed 15 employees within the next few months.”

India's commitment to renewable energy, to achieve 280 GW of installed solar power by 2030, aligns seamlessly with Technique Solaire's ambitions to reduce the country's carbon footprint.

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