[SMM PV Flash] Sumitomo Takes 49% Stake in 500 MWp Indian Solar-Wind-Storage Project

Published: Oct 06, 2026 09:46 (GMT+8)

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Sumitomo Corporation will acquire a 49% stake in Clean Solar Power (Baniyana), while a Hero Future Energies subsidiary retains 51%, to develop approximately 500 MWp of solar and wind capacity with a co-located 200 MWh battery in Karnataka’s Bidar district. The project has a 25-year power purchase agreement with state-owned SJVN and is designed to combine complementary generation profiles with storage for stable morning, evening and round-the-clock supply, while surplus electricity may be sold on the power exchange. Commercial operation is planned for March 2027, and the undisclosed transaction is a minority investment at the project-company level.

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