Punj Lloyd, a diversified construction and engineering group, has tied up with Singapore-based Delta Solar to foray into the solar utility space, the company said Monday.
The joint venture, Punj Lloyd Delta Renewables, will provide solar photovoltaics (SPV) and solar thermal solutions with a strong emphasis on new technologies.
"It is logical for us to partner with Delta Solar, which has already established in India and is the chosen provider for solar lighting solutions for the Commonwealth Games Village (in Delhi)," Punj Lloyd chairman Atul Punj said in a statement.
"This initiative will enable us to address the immediate need for significant energy savings and clean energy sources globally,” he added.
Punj Lloyd Delta Renewables will develop, engineer and execute renewable energy-based projects across the world and will provide turnkey integrated development and sustainable solutions in the power, building and infrastructure sectors.
While initially focussing on solar energy, the joint venture firm will diversify into other forms of renewable energy like biomass and wind, the statement said.