Panchabuta in December had talked about P2Solar’s announcement, where they had announced that they had recently brought on board Mr. Bharat Vasandani, a Mumbai based solar energy advisor, for assisting in identifying and evaluating acquisitions.
We had then mentioned that this was a very good move as a number of smaller developers had been in a situation where 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.
P2 and Photonix have agreed to work together for the development of solar PV power projects in India. Photonix clients and its management’s local network provide a great source of potential project investment opportunities, which will be developed jointly by the parties. P2 will also provide EPC services on an as-needed basis to Photonix clients.
Raj-Mohinder Gurm, CEO, commented, “The agreement with Photonix demonstrates the steady progress P2 is making in India. The agreement enables Photonix to provide a significantly more comprehensive selling proposition to solar PV project developers, as well as enabling Photonix to pursue its goal to expand into the power production business, while expanding P2’s reach in India. We’re very hopeful this partnership is going to open up many opportunities for the company in project development as well as on other fronts. The Photonix team is highly professional and share our vision. The relationship is a good fit and we are looking forward to working with them on many projects.”
The partnership between P2 and Photonix was a result of efforts by Mr. Bharat Vasandani, a solar energy consultant based in Mumbai, who has been assisting P2 for the past 6 months in identifying and developing solar projects in India. Both parties are continuing to develop more valuable opportunities.
Photonix Solar Private Limited has a modern state-of-the-art automatic production line for PV modules at WAI MIDC, District Satara, located 250 km. South East of Mumbai. A full range of PV modules from 3Wp to 250Wp are manufactured for various on-grid and off-grid applications, and are exported to a number of countries globally. Photonix Solar has 10MW per annum of module manufacturing capacity which would be expanded to 100MW per annum by 2012.