HSA Advocates (HSA) advised Statkraft BLP Solar Solutions (SBSS), a joint venture between Norway’s State-owned utility Statkraft and Bharat Light and Power on establishment of a 5 MW solar power plant in Karnataka and was involved in advising SBSS on the regulatory framework and drafting and negotiating of the project contracts. The transaction was led by HSA’s partner Ajoy Halder along with Associate Partner Akshay Malhotra.
SBSS is in pact to sell power from this project to three clients in Karnataka, which include a five-star hotel in Bangalore, a subsidiary of a major German industrial conglomerate and a subsidiary of a German automobile parts manufacturer. The clients will be supplied solar power under the open access mechanism.
The joint venture that was set up in 2015 has since then commissioned rooftop projects along with its first 5 MW solar plant. Statkraft also owns about 300 MW hydel capacity in India in a joint venture with Bhilwara Energy.