CleanTech/ Renewable Energy, Finance, solar

Overseas companies willing to co-invest in Indian solar IPPs

According to reports, India’s large solar programme, which aims to add around 10,000 MW of capacity by 2017, is attracting foreign capital.

A trend of overseas companies willing to co-invest in Indian solar IPPs seems to be emerging.

For instance French glass major Saint Gobain says that ‘Saint Gobain Solar’ wants a large play in the solar business world wide, riding on the parent company’s association with ‘solar’ in terms of supplying glass.

In addition, Saint Gobain has a manufacturing subsidiary, Avancys, that produces thin-film (CIGS) modules.

Avancys is keen on the Indian market and Saint Gobain Solar’s Chief Executive Officer, Fabrice Didier, says that the company also has arrangements for ‘financing schemes’.

(CIGS technology may be just playing catch-up with the more entrenched ‘cadmium telluride’ in terms of efficiency, but “our approach to CIGS is worth being evaluated” is Didier’s refrain.)

Enerparc of Germany is another company that is getting active in India. Its Chief Executive Officer, Stefan Muller, says the company is open to project-wise joint ventures in India.

Enerparc’s ambition for India is to “be there as a developer, EPC player and ‘operations and maintenance’ service provider.

BenQ of Taiwan is yet another company that is willing to come in with funds.

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