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.