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VIBRANT ENERGY SIGNS UP TO BUILD A FURTHER 40 MWP FOR THIRD PARTIES

VIBRANT ENERGY SIGNS UP TO BUILD A FURTHER 40 MWP FOR THIRD PARTIES

Vibrant Energy Holdings Limited (“Vibrant” or the “Company”) is delighted to announce that it has connected its first solar farm at Thanakallu, in the Anantapur district of Andhra Pradesh. The first phase of the project is [ ] MWp. The Company expects to expand this to 11.6 MWp in Q1 of 2017, enabling the project to export 10 MW at peak periods. The plant was built by KEC International Private Limited, and uses GCL solar panels.

Ram Nandakumar, the Chief Executive Officer of Vibrant, said “This is a very significant milestone for Vibrant: the connection of the first project since we were purchased by ATN International. This demonstrates our ability to deliver projects on the ground in India, despite the uniquely challenging market conditions that were caused by demonetisation in early November, which saw all of our projects stopped for a short period as our supply chain adjusted to the new working norms in India.”

The district of Anantapur is arid, with very low levels of rainfall expected in any given year. This makes the land difficult, and often impossible, to economically farm. Dr Nandakumar continued “Solar projects are excellent for rural communities like Thanakallu where the land is difficult to farm. We inject money into the local economy when we purchase the land from the previous owners, and create very long-term jobs for the local community on our solar farms in security, ground maintenance and panel cleaning. This really is a win-win for all parties. I have every confidence that the project will be a success, and look forward to building many more in the months and years to come.”

If you would like any more information on the Thanakallu solar farm, please contact us by emailing vehinfo@vibrantenergyholdings.com.