With an aim to bridge the power supply gap for local companies, US-based First Solar is mulling over taking up solar photovoltaic (PV) clusters in India close to existing industrial estates. First Solar is a solar photovoltaic products and integration solutions company.
Sujoy Ghosh, country head-India, First Solar Power India, told Business Line: “Since such solar PV projects are modular in nature, we will have the flexibility to set up the required capacity and have the capability to ramp up. In the US, we have helped set up two 550 MW solar PV farms. It only shows that it is possible to set up much bigger farms than what we have seen in India so far.”
Most industrial units in India, particularly in the southern States, are said to be short of power thus creating an opportunity for the development of solar farms.
“The model will seek to tie up with local potential industrial buyers and sign up for power purchase pacts. This will also help us and similar developers to achieve financial closure for the project as they will become bankable,” he explained.
The cost of power generation is going up for projects based on fossil fuels and that of renewable energy sources coming down, the report said.
“Over 25 per cent of the installed capacity of 1,400 MW of solar PV units have been handled by First Solar as a supplier and an implementation partner. We will now play a much bigger role both as developer and turnkey solutions provider,” Ghosh added.