Amplus Energy Solutions has signed agreements with Maharashtra and Andhra Pradesh to build solar projects with an investment of Rs 2,700 crore. The company has signed an MoU with Andhra Pradesh to install 200 MW solar capacity with investment of Rs 1,200 crore. The project is expected to create 400 jobs in the state.
The MoU with Maharashtra is for 300 MW solar capacity, of which 250 MW would be for ground-mounted captive and 50 MW for rooftops across the state. This will require an investment of Rs 1,500 crore and is expected to generate employment for 150 people.
Amplus Energy MD and CEO said the following,
"Our agreements with Maharashtra and Andhra Pradesh governments will help us expand in these states and ramp up our business and achieve our solar power targets."
In February, Amplus signed an MoU with Uttar Pradesh to invest Rs 2,200 crore for 500 MW solar capacity.
For funding its projects, Amplus has a partnership with Yes Bank to co-finance and develop projects in the solar energy sector in India.