CLP Group acquired 49% stakes in Suzlon solar project in Telangana
India: CLP group, an electric power generation company in Hong Kong had
acquired 49% stake in Suzlon solar project having an installed capacity of 100
mw in Telangana. The tariff bids for a new solar projects in India are falling
low due to government initiatives to expand solar market to 100,000 mw of
grid-connected solar power by 2022. CLP
India and Suzlon will jointly develop the project at Veltoor in Telangana under
a special purpose vehicle (SPV) called SE Solar. In addition, the company will
have the option to acquire the remaining 51% stakes later.
TechSci Research depicts that expansion of solar
projects, increasing willingness of foreign players & government initiative
creates the demand for solar power equipment market in India. The increasing
focus on clean energy development mechanism supported by policy initiatives of
the government are major drivers for solar power equipment market in the
country. The renewable purchase obligation for power utilities companies, bulk
consumers of electricity, etc. will result in installation of solar plants in the
country to ensure adequate supply to the obligated entities.
According to a recent released report of TechSci Research, “India Solar Power Equipment
Market Forecast
and Opportunities, 2021”, 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.