Kiran Energy gets $50M funding for Gujarat solar project

Kiran Energy Solar Power Pvt. raised US $50 million from three private equity firms for its 20-megawatt solar plant project in Gujarat.

The firms are Argonaut Ventures, Bessemer Venture Partners and New Silk Route Partners reveals Kiran Energy founder Ardeshir Contractor.

Kiran Energy will use panels made by Sharp Corp. and get financing from State Bank of India and Mizuho Financial Group Inc., Contractor added.

Another 5-megawatt plant in Rajasthan is using panels on trackers supplied by SunPower Corp. The engineering contractor for the project is the solar unit of Mahindra Group, he said.