Solar tariffs on a declining spree in India
July 17, 2015India’s Solar Power sector sees another major controversy/scam with Adani – Tamil Nadu deal of Rs 7/unit considered usurious
July 21, 2015Upto 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
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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.
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