MYSUN, India’s leading distributed solar company, has been allocated 140 MW solar projects under the Captive/Open Access mode by the Uttar Pradesh Power Transmission Corporation Limited (UPPTCL). The process of allocation saw active participation from most of the large solar developers from all over the country.
This scheme will promote use of solar energy in the state of Uttar Pradesh for large industries and corporates. The latest round of allocation saw connectivity approvals being granted for central, western, and eastern parts of UP. Overall, about 1.5GW of grid sub-station capacity was put up for allocation. MYSUN will be developing these projects across multiple districts primarily in parts of Western UP.
Speaking on the development, Gagan Vermani, Founder & CEO of MYSUN said, “The allocation of this 140MW is a commitment from our side to provide clean, reliable and affordable solar power to large energy consumers like industries, data centers, corporate parks and builders in Uttar Pradesh. There is a lot of existing demand and with a renewed focus on industrialization in UP. Clubbed with an upcoming new international airport, we foresee huge demand for solar energy from our Open Access power projects.”
MYSUN, under its recently launched asset vehicle MYSUN+, is expanding its presence across the states like Uttar Pradesh, Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Tamil Nadu along with the National Capital Region. The company is already in early-stage development of more than 220MW of projects under the Captive/ Open Access mechanisms.
“We are excited with the progress that our venture MYSUN+ has made in such a short span of time. Our 360-degree approach of catering to all types of clients, backed by innovative technology, financing and service is gathering good momentum and our team is fully geared up to scale this business to the next level.” added Mr. Vermani
MYSUN+ was launched in February 2021 to develop solar projects under the distributed and open access models with an overall investment of Rs 600 Crores in the first phase. Within a short period, MYSUN+ has amalgamated with some of the major corporates and MNCs in India for their upcoming solarization plans.
In its recent developments, the company had tied-up debt funding from TATA Cleantech Capital Ltd (TCCL), a joint venture between Tata Capital Limited (‘TCL’) and International Finance Corporation (‘IFC’), Washington DC, US.
About MYSUN – MYSUN (www.itsmysun.com) is an innovative technology platform for distributed solar solutions and services focused on large C&I clients on one hand and the under-solarized but huge SME and homes market on the other. It operates India’s largest online rooftop solar platform. It has a strong backbone of technology for curating and aggregating customer demand. The company currently operates in 10 states and is expanding in both the on-site and the off-site distributed solar projects. The company also provides a wide range of financing solutions for SMEs and Homes for solar systems.