Suzlon, a wind turbine manufacturer and renewable energy project developer, has entered into a joint venture (JV) with AMP Solar, a global renewable power provider, to develop and construct a 15 MW solar project at Achampet in Telangana. The project is expected to be commissioned in the financial year 2017. AMP Solar will acquire a 49 percent stake in Rudra Solarfarms, a special purpose vehicle (SPV) built by Suzlon to execute this project for a cash consideration of Rs.140 million (~$2.06 million), and has the option to acquire the remaining 51 percent stake a year after the project is commissioned.