India: New venture to install 100 MW of PV announced14. June 2010 | Applications & Installations, Markets & Trends | By: Becky Stuart
American Capital Energy, Inc., (ACE) and MSM Energy (MSME), are planning a joint solar energy venture in India.
The new project, named ICE Solar, will begin providing photovoltaic (PV) solar engineering, procurement and construction (EPC) to the Indian market by the end of this year.
According to the Indian Economic Times, Walter Borden, managing director, Asia Pacific region for ACE said that the venture would see around 100 megawatts (MW) of solar power added within the next three years. “We have our first 5 MW project in Gujarat, which we are planning to construct by the end of this year,” he explained.
Mr. Tom Hunton, president and CEO, American Capital Energy, added: "There is a four pronged advantage to embracing solar energy. To: (i) reduce energy risk and pollution: (ii) turn our open space or roof top into revenue; (iii) reduce energy costs immediately; and (iv) gain a competitive advantage and don't fall behind. In all these regards this is a great opportunity for all of us to popularize and propagate the use of Solar PVs."
"ICE Solar, is uniquely positioned to capitalize on this growth opportunity through MSME's significant business development efforts and American Capital Energy's considerable engineering, procurement and construction experience,” concluded Mr. Madhav Muvvala, president, MSM Energy, subsidiary of MSM Industries, Inc., USA.
The Indian government has announced its Solar Mission under the National Action Plan on Climate Change in November 2009 with the goal to generate 1,000 MW of solar power by 2013 and 20,000 MW by 2020.
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