Earlier in May, SunBorne Energy Technologies, a solar power developer backed by billionaire Vinod Khosla, was close to arranging 1.5 billion rupees ($34 million) in loans from three banks for its first plant in India. SBI Capital Markets Ltd., a unit of India’s largest lender,was said to be arranging the deal.
SunBorne Energy s developing a 1MW solar power tower system which will use a field of cutting-edge heliostats designed by Titan Tracker.
SunBorne Energy’s R&D project is jointly funded by India’s Ministry of New and Renewable Energy (MNRE) and the Government of India, and involves internationally renowned solar experts such as Dr Yogi Goswami, Dr Manuel Romero and Dr Aldo Stienfeld.
The University of South Florida in the US, the IMDEA Energy Foundation in Spain, and the Indian Institute of Technology among others are also collaborating on this project which aims to “address the current technology limitations present in Indian industry” with an international team that has extensive experience in power tower systems and energy storage.
The cutting-edge project will include a field of heliostats designed by Spain’s Titan Tracker. SunBorne team is adopting Titan Tracker’s heliostat design through unique field layout and indigenized mirror facet manufacturing technology. Titan Tracker heliostat design is characterised by its minimal deformations, zero backlash and continuous movement in azimuth proving extremely high accuracy and reliability.
“We have selected Titan Tracker because of its performance according to our requirements but also combined with a relevant potential for cost reduction. This will allow us to achieve our targets for next commercial CSP projects in India,” explains principal investigator of the R&D project, Dr. Nitin Goel.
In turn, Juan P. Cabanillas, Managing Director of Titan Tracker, explains “We are really pleased to work with SunBorne as a business partner in India for a long-term cooperation. We are proud to have reached about 30% cost reduction in the manufacturing of our tracking systems and heliostats after the latest developments”.