Proiect Today reported that Suryachakra Power Venture has entered into a JV with Man Solar Millennium GmBH of Germany for developing solar power projects in India.

The JV named Suryachakra MSM Solar India proposes to set up solar power projects of 5 MW each in Maharashtra, Chhattisgarh, Andhra Pradesh, Gujarat and Madhya Pradesh at an investment of INR 420 crore for a period of two years.

The projects will be funded through 50% contribution by the JV partner and the remaining amount will be raised through internal accruals and private equity palcement.