Home » Solar » Solarsis eyeing Rs 2.5bn turnover in 2-3 years-may setup JV for manufacturing Solar PV in India with Abound Solar

Solarsis eyeing Rs 2.5bn turnover in 2-3 years-may setup JV for manufacturing Solar PV in India with Abound Solar

As Panchabuta had mentioned a couple of days ago, Abound Solar, announced a long-term sales agreement with Solarsis. The companies will work together to provide solutions based on Abound’s next-generation thin-film modules serving project developers in the Indian market.  Solarsis will also establish a test facility with the purpose of optimizing balance of system (BoS) designs around Abound Solar’s modules that will lower total system costs for customers. The first project under this agreement will be a 1 megawatt ground-mount array in Ananthapur, in the state of Andhra Pradesh, India.

According to reports, Solar power consulting company Solarsis is targeting a turnover of Rs 250 crore over the next two to three years, a top company executive said today.

“Given rate at which the solar power industry is growing we may achieve Rs 250 crore in the next two to three years. We have commissioned our first two Mw solar power generation plant in Nellore recently,” Solaris President GG Chowdhry said.

“The upcoming plant in Ananthapur will be commissioned by September, 2011,” he said.

Further, another report adds that Solaris is looking at the possibility of forming a joint venture (JV) with US-based Abound Solar for setting up a cadmium telluride thin-film PV solar modules manufacturing facility at one of its group companies — Sri City — a special economic zone (SEZ) at Tada in Nellore district of Andhra Pradesh, the southern border abutting the neighbouring Tamil Nadu.

“We are now making our second plant at Indiana in the US and our intention is to make facilities elsewhere. India is certainly one market, which we are interested in. The Indian market looks very strong and is a good place to put up a facility…certainly the Indian manufacturing plant’s plans will take shape in the next two to three years,”  Julian Hawkins, senior vice-president (sales and marketing) 0f Abound Solar.

“We are working out the modalities, including the investments, shareholding pattern and the production capacities,” Rajaraman said.

“There is a lot of demand for local equipment and we expect the National Solar Mission to make it mandatory to use thin-film PV modules in building solar power plants in the country by next year.  Discussions with Abound Solar are under way and a possible development on this front – from the current drawing board stage to reality – will crystalise sometime early next calendar year,” he added.

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