Amplus Energy Solutions Private Limited (Amplus), a portfolio company of I Squared Capital and one of India’s leading solar developers, has been selected for the National Award for Rooftop Project Developers by the Ministry of New and Renewable Energy (MNRE). The award was presented as part of the first ever National Workshop on Rooftop Solar in India, organized by MNRE.
Sanjeev Aggarwal, Managing Director and CEO, Amplus, said, “We are delighted that the Government of India has recognized Amplus Solar as National leader in the distributed solar generation segment. Amplus provides best-in-class solar facilities under a PPA model, reducing technology and investment risk commercial and industrial customers across Asia.”
Guru Inder Singh, Chief Operating Officer, Amplus added, “Amplus Solar has grown rapidly since the equity investment by I Squared Capital in June 2015. The company now has nation-wide capabilities providing project delivery, operations and maintenance to our customers. We continue to develop our rooftop portfolio and evaluate acquisitions in India and Asia. Amplus prides itself on the quality of its plants and the service provided through its remote monitoring center in Gurgaon and in-house SCADA system, which maximizes uptime for distributed generation and rooftop systems in Indian operating conditions.”
Amplus has recently partnered with Walmart to provide solar power at 15 Best Price Modern Wholesale stores across five states. In April 2016, Amplus commissioned India’s largest single-location rooftop solar installation for captive use of 4,000 kilowatts for Yamaha Motors.
The rooftop segment is expected to grow rapidly from a current capacity of around 525MW to the Indian government’s target of 40,000MW by 2022. Distributed solar has inherent advantages including speedy implementation, no transmission losses and use of “idle spaces,” like factory sheds and building terraces, making it ideal for generating renewable energy, especially in markets like India where land is at a premium.