Risen Energy Co., Ltd, a leading, Tier 1 manufacturer of high-performance solar 
photovoltaic products, has recently announced an additional contract for the 
supply of 165MW of customised high-performance solar PV modules with Sprng 
Energy. 

Sprng Energy, a leading Indian renewable energy developer, and an Actis group 
company, has recently purchased 165MW of solar PV modules from Risen, as part 
of the Anantapur Solar project for supplying power to AP State through NTPC at 
a competitive price of INR 2.72/kWh. This latest project of Sprng Energy, is an 
integral part of overall plan to install in excess of 2 GW of renewable energy 
within India, a little over 1.2% of the total renewable capacity target set by 
the Indian Government's 175GW goal. 

Whilst this is the first award to Risen by Sprng, there is a historic relation 
between Risen and Actis, resultant from Risen's supply of circa 350MW of solar 
PV modules to another Actis entity in an alternate growth market. 

"Professional, dedicated, focussed" answered Mr. Bypina Veerraju Chaudary, CSMO 
of Risen, when asked to summarise the recent interactions with Sprng, "They 
know where they are going, and how to get there" he continued, "We are 
delighted that Risen can be a part of their inspiring goals and be chosen 
through their objective evaluation of solar PV suppliers. We continue to 
demonstrate that Risen can deliver tangible net worth benefits to solar project 
developers". 

Mr. Gaurav Sood, CEO of Sprng Energy, was also emphatic about the order 
placement; "Developing a solar PV project under current conditions is 
significantly more complicated than normal, establishing secured supply of 
materials, labour and timely approvals is an intensive logistical exercise. Our 
choice of Risen was streamlined from their historical performance and enhanced 
with their constructive approach to dealing our specific requirements. We are 
pleased to have them in our portfolio and confident of their ability to perform 
as anticipated. We look forward to reaping the rewards in the form of good 
performance and a strong relationship on this and future projects".   

The Indian solar PV arena, battered and bruised from recent COVID19 events, 
continues to show its "grit & resilience" overcoming past, present, and future 
adversity. It's a testament to companies like Sprng, that this behemoth 
industry can expand when the rest of the world has stagnated, and a further 
demonstration that nothing beats a committed desire to make a difference with 
solar energy delivery. 

About Risen 

Risen Energy is a leading, global, Tier1, "AAA" credit rated manufacturer of 
high-performance solar photovoltaic products and provider of total business 
solutions for power generation. The Company, founded in 1986 and publicly 
listed in 2010, compels value generation for its global customers. 
Techno-commercial innovation, underpinned by consummate quality and support, 
encircle Risen total Solar PV business solutions which are among the most 
powerful and cost effective in the industry. With local market presence, and 
strong financial bankability status, we are committed, and able, to building 
strategic, mutually beneficial collaborations with our partners, as together we 
capitalise on the rising value of green energy.

About Sprng

Sprng Energy is an Indian renewable energy platform set-up in 2017 by Actis, a 
leading private equity investor focused on growth markets, with an equity 
commitment of US$475m. Spring currently has c.1.75GW of contracted solar and 
wind projects of which c.650MW are operating. The operational capacity is 
expected to reach to 1.2GW by end of this financial year and remaining projects 
at various stages of construction. 

SOURCE  Risen Energy Co., Ltd