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meeco AG Solar to build up to 50MW Solar Parks in India in the next three years

As Panchabuta has earlier reported, there have been international reports that have started saying that “India the top target for being the new Germany for Solar“.

There have also been discussions about German firms coming up empty-handed in India in 2010 and Panchabuta has analyzed this in detail in an earlier essay.

In spite of this there have been numerous announcements including that of Harsha Engineers  that recently entered into a JV with German firm Abakus Solar with plans to be EPC contractor/Systems integrator for Solar PV.

The meeco Group through meeco India Private Limited, will expand its offers of clean energy turnkey solutions, clean advisory services and cellcubeTM storage solutions, to this growing Indian solar market and will build up to 50 MWp solar parks in the next three years.

“India is densely populated and has high solar radiation, an ideal combination for the usage of solar power. Thus, India is poised to expand its role in Photovoltaic Solar adoption and to become a leading destination for such technology. This is a great chance for us and our partners to widen our activities in the Asian and especially in the Indian market”, explains Dieter Trutschler, member of the Board of Directors of meeco AG.

meeco India is an India-based renewable energy company providing primarily solar project services in India. The services will cover the entire life cycle of photovoltaic projects, such as project development, financial structuring, engineering, procurement, project construction management, long-term operations and management.

 “meeco India will deliver projects at the highest international standards banking on the experience of the meeco Group’s global team which has implemented more than 200 MWp of PV solar projects just in Europe”, says Managing Director Tarun Munjal.

The Directors team of meeco India consists of national as well as international personalities. This is also an important factor for the success of The meeco Group: international expertise and local experience.

Mr. Suresh C. Pahwa (Director) and Mr. Tarun Munjal (Managing Director) from India are leading meeco’s Indian operations as Directors based in Gurgaon. They are further expanding the local organization, which will be integrated into meeco’s global delivery model and expertise. Mr. Dieter Trutschler (meeco Board) is providing leadership guidance and Mr. Thomas Beindorf (Director & meeco Board) provides integration within meeco’s global operations.

Mr. Tarun Munjal about the future of the business field: “meeco India will complete its first Megawatt size project in the second quarter of 2011. By the end of the year, the goal is to build a portfolio in the excess of 10 MWp. In the next three years meeco India’s objective is to achieve a portfolio of 50 MWp across different states in India.”

It will be interesting to see how meeco AG will position itself in the price sensitive Indian market where the bids have been rather aggressive and there will be a focus on costs.

According to experts in the industry that Panchabuta spoke to, the German firms and other foreign JV’s would have to adopt a price and quality balance that suites the Indian market with possible indegenisation to make costs workable and win projects.

They will also face competition from other foreign firms and  a few developers with project allotments in National Solar Mission and the Gujarat state policy that have now raised private equity and are aggressively now wanting to ramp up capacity by aggressively entering into JV’s for additional capacity.

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