SkyPower looking for local players for its upcoming solar projects in India

India: The leading Canadian solar power manufacturing firm, SkyPower, aims to build 350MW of solar projects in India. It has won contracts for developing 150 MW of solar projects in Madhya Pradesh and 200 MW of solar projects in Teleangana state. SkyPower has hired Greenstone Energy Advisor to facilitate the search process for finding a local partner for providing local expertise and for the execution of projects. The company has also planned to set up solar projects with a total capacity of 18GW in India in the next six years.

Techsci Research depicts that the solar power sector in India is one of the most lucrative sector attracting a large amount of investments through public as well as private sector firms. FDIs accompanied with the eagerness of foreign companies to develop projects as a joint venture with Indian firms would provide further technical development of the Indian firms. This is likely to benefit the solar power equipment providers in India thus, creating huge opportunities in this segment.

According to a recently released TechSci Research report, “India Solar Power Equipment Market Forecast & Opportunities, 2020”, the solar power equipment market in India is projected to surpass USD4 billion by 2020, wherein solar energy would be generated by employing photovoltaic (PV) and concentrated solar power (CSP) technologies across the country. Constantly improving solar equipment technologies, advanced manufacturing processes for production of hi-tech equipment and anticipated decline in equipment prices is projected to further drive the solar equipment market over the next five years.