German consortium signs PPA for 5MW Indian solar project

A German Consortium consisting of SOLEA AG and PINPOINT VENTURES HOLDING has signed a Power Purchase Agreement (PPA) for a 5 MW Solar project with Bangalore Electricity Supply Company (BESCOM)
German consortium signs PPA for 5MW Indian solar project

BESCOM is responsible for providing electricity to more than 20 million in people in Bangalore and neighbouring districts. The consortium, led by PINPOINT’s Indian subsidiary Heidelberg Solar Pvt Ltd, had won the project in the 130MW tender issued by the Karnataka Renewable Energy Department Limited (KREDL) in August 2013.

The Power Purchase Agreement was signed yesterday by the German consortium company PINPOINT ENERGY K1 PRIVATE LTD in the presence of BESCOM’s Managing Director Mr. Pankaj Kumar Pandey, IAS and General Manager (PP) Mr. C. R. Vijayadev.

“We have been very impressed by the way the Tender process was formulated and executed by Karnataka State” said Mr. Kishore Pinpati, Director of PINPOINT. “We are the first German solar company to enter the State for such grid scale utility projects and plan to develop many more projects in Karnataka.”

Mr. Georg Sterner, Director of SOLEA AG, added that the company has managed to understand the challenges of the Indian solar market during the last 18 months and was very happy to announce the signing of the 25-year agreement which provides a clear example of Indo-German partnership in the Indian renewable energy sector.

For additional information:

Solea AG

Heidelberg Solar Pvt Ltd


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