Epic Energy Inks Pact With Niva Ecotech To Set Up 25 MW Solar Park

Epic Energy Ltd (Epic) on Monday said it has inked a pact with Niva Ecotech to set up a 35 MWp (25 MW) solar park in and around Solapur.

"Epic Renewable Projects Pvt Ltd is a 100 per cent subsidiary established by Epic Energy Ltd for the purpose of setting up solar parks in India. We are very excited about the first venture to be executed in collaboration with Niva," Pranav Chhatre, Director, Epic Renewable Projects Pvt Ltd, said in a BSE statement.

We have already identified several sites in and around Solapur, Maharashtra, to set up the first Epic Solar Park of 35 MWp (25 MW). Our goal is to reach a total installed capacity of 140 MWp (100 MW) within the next two years."

According to the statement, Epic Energy Ltd, a significant player in the Solar EPC market, has entered into an Agreement with Niva Ecotech Pvt Ltd, (Niva), an established player in the business of setting up Solar Parks to, inter alia, set up a 35 MWp (25 MW) solar park in and around Solapur in Maharashtra.

"Solapur is an ideal location to set up solar parks. At Niva, we have already executed multiple projects at this location for various customers in the last three years. Our partnership with Epic will help us to use our skills and experience to good effect to expand India's solar energy footprint," Ajay Mundada, Director, Niva Ecotech Pvt Ltd, said in the statement.

Explaining the business model, Nikhil Morsawala, CFO of Epic, said, "We are in advanced negotiations with certain blue-chip corporates in India to set up solar energy plants for them under the Group Captive Open Access system at our proposed Solar Park in Solapur."

Epic -- an energy service company -- has been in the field of energy conservation and green energy for the last two decades. Niva is an established player in the business of setting up rooftop solar installations, solar parks and providing solar EPC services as well as the full range of operations and maintenance services.