Dynamic Services & Security Ltd announced this week it has entered into a Memorandum of Understanding (MOU) with Sungevity Enterprises to develop a 100 MW solar power plant in Manipur, India, through a special purpose vehicle (SPV).
The SPV for the solar project development is expected to be set up shortly. Dynamic will own 85% of the equity in the SPV.
The project construction period is 18 months from date of signing of the power purchase agreement with the government of Manipur.
Dynamic will invest INR 2.5 crore to acquire 400-acre land for the 100 MW solar power project to be developed in Manipur.
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