Amplus partners with Yes Bank for strategic solar power tie-up

Amplus Energy Solutions has signed an MoU with Yes Bank for a strategic tie-up to co-finance projects in the solar energy sector in India. The agreement was signed at International Solar Alliance pavilion at the World Future Energy Summit, Abu Dhabi. The bank will look for bankable projects to invest in and Amplus will develop them. Total projects capacity is expected to be up to 1,000 MW under the partnership. These projects would be developed by Amplus by 2023. Yes Bank, which has been focussing on funding green energy projects in India, also announced on Wednesday that it will mobilise $1 billion by 2023 for financing solar energy projects in India and $5 billion till 2030. World Future Energy summit, which is being held in Abu Dhabi, UAE from January 15-18, is focussing on renewable energy. Sanjeev Aggarwal, Managing Director & CEO, Amplus Energy, said the partnership will be beneficial as they can provide installation, operational and maintainence expertise while Yes Bank can fund eligible projects.