Two newcomers to the solar market are looking to secure a deal for 100 MW of PV projects in India, according to reports. Indian wind turbine manufacturer won a tender in January to develop 210 MW of PV projects in India, which seems to be attracting interest from Hong-Kong based energy company CLP Group.
It is CLPs Indian subsidiary, who started operations in India in 2002, that is negotiating the deal with Suzlon, for the purchase of 100 MW of solar plants. Suzlon, which is one of Indias biggest wind turbine manufacturers, won the tender for 210 MW of projects in the state of Telangana and plans on developing the plants before selling them on to energy companies.
This is a similar business model to the one that it has for its wind farms within the country. Suzlon plans on commissioning the PV projects in Telangana in FY 2016-17.
Whether the deal is struck or not, it is an encouraging sign for the solar industry within India, which is expected to grow rapidly in the next few years, after Prime Minister Narendra Modi set a target of 100 GW of PV capacity by 2022. It is particularly promising to see CLP, who currently only operates wind, coal and gas plants in India, wanting to expand its portfolio into the solar sector, showing that it has confidence that the industry will expand.