First Solar and Reliance Power enter 100 MW supply agreement07. September 2011 | Applications & Installations, Industry & Suppliers | By: Becky Stuart
First Solar has signed a 100 megawatt (MW) photovoltaic module supply agreement with Reliance Power.
Under the terms, First Solar will deliver 40 MW of its thin film modules to Reliance Power, an independent power producer operating in India, by the end of the year. The remaining 60 MW, meanwhile, are expected to be delivered in 2012.
The first 40 MW will be used in Reliance’s photovoltaic project in Jaisalmer, Rajasthan. The generated power is expected to help meet Mumbai’s energy demand.
At the end of August, the U.S. Export-Import Bank reportedly approved an $84.3 million direct loan to Reliance Power's Dahanu Solar Power Pvt. unit to purchase the 40 MW.
According to a statement released, the supply agreement is said to be the largest of its kind in India.
Jim Brown, president of First Solar's Utility Systems Business Group commented, "With strong growth projections, India is expected to become one of the world's major solar markets, due to its abundant solar resource and significant energy demand.
"This agreement with Reliance Power continues First Solar's momentum in India, helping develop the country's long-term, sustainable solar market."
Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter
- 7145 views
- 6630 views
- 3474 views
- 2837 views
- 2731 views
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!