Amplus to invest Rs 90 cr in Walmart’s rooftop solar plants
Amplus Energy Solutions has committed an investment of Rs 90 crore to install and commission 15 rooftop solar power plants for world’s leading retailer Walmart in India.
Gurgaon-based Amplus plans to fund the investment through the money it raised from a global infrastructure investment fund, I Squared Capital. It raised USD 150 million last year from the fund, the company said in a statement.
The company has already commissioned a 297-kWp (kilowatt peak) rooftop solar plant for Walmart’s Best Price store at Agra, it added.
It plans to commission 11 more plants for Walmart in the next 4-5 weeks in Punjab, Uttar Pradesh, Madhya Pradesh, Rajasthan and Andhra Pradesh, it said.
Walmart India has signed a Power Purchase Agreement (PPA) with Amplus to solarise their 15 Best Price outlets. Once completed, these plants over their lifetime will help in saving 1,72,000 MT CO2, which is equivalent to planting 2.15 lakh trees.
“We have pledged to meet 50 per cent of our energy needs through renewable energy and this partnership is testimony to the commitment. We are pleased that the rooftop solar plant has been commissioned at Agra and we will be monitoring the power generation through Amplus’ cloud based software,” Walmart India President & CEO Krish Iyer said.