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Solar Energy in India draws another Industrial Giant as Areva looks to invest $3 Billion in Solar Thermal

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Solar Energy Future Growth has been vastly underestimated by policy makers and analysts but private companies are recognized the huge potential.India’s JNNSM Policy which is meant to jumpstart India’s Solar Energy has drawn huge interest from both domestic and foreign companies.The number of Solar Companies in India are growing at a rapid pace attracted by the huge opportunity.While starting troubles like project financing of debt etc are present,the long term growth potential of Solar Energy in India is tremendous.Global Industrial Giants like GE,Siemens have already established or in the process of investing huge sums of money to capitalize on this Green Trend.Now French Giant Areva has joined them.Note Areva is the global leader in nuclear equipment technology and is not known for its prowess in Solar and Wind Energy.However the company is making a play in Solar Thermal Technology where  it hopes to use its existing skills and knowledge.Areva had acquired US startup Ausra which had fallen on hard times earlier.However Areva has not won too many Solar Thermal Projects in the recent past.However things may change starting with India

Areva plans 1000 MW of Solar Thermal Capacity in India with an investment of $3 Billion partnering with Indian financial institutions.The Company is awaiting the award of projects under JNNSM which has a huge capacity earmarked for Solar Thermal Projects.The Company also plans to set up a Solar EPC subsidiary to construct turnkey plants for other companies.India could be the biggest growth market for Areva with its recent opening of the nuclear sector.Areva already has a 60 MW biomass capacity in India which is also set to set sharp growth.Areva hopes to gain from growth in all the 3 sectors of Nuclear,Solar and Biomass Energy  .

Areva has Rs 13,300-crore plans for solar energy – Rediff

Solar panelsTalks with FIs, state governments on for 1,000-Mw capacity; may also float subsidiary for solar EPC.It plans to float two subsidiaries for channelising investment to the tune of $3 billion (Rs 13,300 crore) in solar power generation.The company, which has also bid for projects under the solar mission in a tie-up with nine companies, plans to put up 250 Mw capacity at four locations. For this, it is in talks with the governments of Gujarat, Rajasthan, Madhya Pradeshand MaharashtraAt an estimated requirement of $3 million (Rs 13.4 crore) per Mw, the investment requirement for four 250 Mw units would be roughly $3 bn.On the cost economics of taking up projects outside the mission, Srivastava said the Central Electricity Regulatory Commissions rate of Rs 15.3 a unit is absolutely doable.

Today, we can localise up to 60 per cent of the plant, with 10-12 per cent unleveraged returns. We can go right up to 80 per cent localisation in a short span of time, he said.


Sneha Shah

I am Sneha, the Editor-in-chief for the Blog. We would be glad to receive suggestions, inputs & comments on GWI from you guys to keep it going! You can contact me for consultancy/trade inquires by writing an email to

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