According to a release by P2 Solar, the company announced that they recently brought on board Mr. Bharat Vasandani, a Mumbai based solar energy advisor, for assisting in identifying and evaluating acquisitions.
Mr. Vasandani currently works on on- and off-grid solar pv projects in India, real estate and green building initiatives. He has previously been involved in consulting and financial services and business strategy.
With the addition of Mr. Vasandani, P2 has already been able to review several projects. We’re looking for the right fit in terms of geography, partner and terms, said the company.
This is a very good move as a number of smaller developers have been in a similar situation that P2 finds itself in. The policy differences, the different options between state wise policy and national solar mission etc. has led to a lot of smaller developers from US and Europe going around in circles over the last two years.
With so many shows and events, developers are left even more confused and Panchabuta has often discussed this offline with a number of developers and other participants in the ecosystem about the need for a more interactive and participative forum for developers rather than the manufacturing showcase event that happen year round.
P2 seems to have attempted to first sign a agreement to develop a solar project first with a state government, then to participate in the National Solar Mission and then dropping it. A lot of developers are also in a similar situation and there is a lot of interest from foreign companies now to tie up with the 30 Solar developers in the PV space that have been shortlisted under the National Solar Mission.
This will require a strong advisor based out of India to help evaluate opportunities and P2 seems to have made the right move at the right time.
Panchabuta would like to congratulate Mr. Vasandani on his new assignment and wish him all the success.