Bookmark and Share

Canadian Solar’s JV to Expand in India – has plans to set 1GW of solar parks

2 Comment

Upto 1GW of Solar Parks in India

Canadian Solar’s JV Sarus Solar is now planning expansion into India. The firm has plans to set up solar parks in the country. Canadian Solar had set up a JV called Sarus Solar with an EPC contractor Guycan Solar and investor Mackie Research Capital Corp. to expand business in India. The company has tied up with an Indian firm, Neelkanth Solar Energy to facilitate business in India. Guycan will engage in the EPC work on the projects, Mackie will look after financing the schemes and Canadian Solar will supply solar panels and technology.

Canadian Solar, though  headquartered in Canada has its major manufacturing in China. The company is amongst a leading manufacturer and supplier of solar panels and is also fast expanding into downstream project business. The company is a star performer and gave good quarterly performance, beating its own guidance on many fronts.

Read more about Canadian Solar panel review here.

Together the JV will build a 500 MW solar park in India’s largest state of Maharashtra, which is currently awaiting government approval. The firm has already bought 6.5 hectares of land for this purpose. The proposed solar park investment will be around $1 billion. After this solar park another 500 MW is to be developed in the Jharkhand district. The JV is also planning to build a solar panel manufacturing facility in India.

Many foreign solar companies are expanding their footprint in India, given the country’s ambitious 100GW solar target. Many other entities, though not having any exposure in the solar area, are also seeking to invest in the Indian Solar market. Recently Softbank of Japan announced a huge $20 billion investment in the Indian Solar industry. First Solar also started the commercial operation of its 20 MW solar plant in Telangana in India and further has plans to build up 200 MW of more solar power.

Source: PV Tech


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

2 Responses so far | Have Your Say!

  1. pramod ranjan arora

    Indian solar market is one of the fastest growing market in the world (higher targets within limited timeframe). On the other hand, Indian Government as well as State Governments are taking initiatives to develop solar projects. It has developed positive attitude among the foreign investors.

  2. Ikechukwu Ogbuagu

    What are the steps to take so as to attract foreign solar energy systems manufacturers to Nigeria. I really need your help because Nigeria is a virgin country for solar energy technologies.