AEG added that it will build an inverter manufacturing facility in the country next year, in order to maximize its potential business development there.
The companies have said the first projects, totaling 15 MW, are expected to be installed in the last quarter of this year, while it is hoped a further 30 MW will be installed in the beginning of next year. Both projects will be located in the states of Gujrat and Rajastan.
India-based Electrotherm will reportedly act as EPC (Engineering, Procurement and Construction) in the projects, which will be developed by both groups. In addition, the company says it will provide MV transformers and other basic components, such as structures and complete wiring which are parts of the companys portfolio.
AEG, on the other hand, says it will provide its technical expertise in the photovoltaic market, as well as engineering services, and will deliver key components such solar inverters, metering, monitoring and controlling equipment and intelligent combiner boxes, part of the total solar power solutions of the group.
Both companies add that they expect to develop together a minimum of 100 MW of business activity in India over a period of three years.
The Indian market for solar is going to be one of the fastest growing and one of the biggest worldwide in the coming years and is expected to have an installed capacity of about 1,500 MW in next two to three years, comments Enrique de la Cruz, vice president of the Solar Division of AEG Power Solutions.