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Platina Partners buys 15 megawatts of solar projects planned for India

As readers of Panchabuta are aware, Solar in India is at a very interesting stage. India has been identified as the top target to become the new Germany for Solar based on Lux research analysis and our own understanding of the developments that are taking place in India.

We continue to believe that solar will take off in a very big way from the middle of the next plan period if the government persists with its Jawaharlal Nehru National Solar Mission and its commitment to development in the next plan period and beyond on a low carbon economy as it has indicated earlier.

According to a report by consultancy firm KPMG, technological breakthroughs and economies of scale will make solar power competitive in six years and help India add 67,000 megawatts of solar generation capacity by 2022 – more than thrice the country’s target.

The estimated capacity based on allotments/concessions and PPA signed in India is about 1.5GW in the next year in Solar PV and there have been reports talking about 700MW of installed capacity by 2011.

According to reports, Platina Partners LLP, a London-based private equity firm, bought three solar plants in Italy and plans to buy more to take advantage of growth in the world’s largest market for so-called photovoltaic power after Germany.

The company bought 15 megawatts of solar projects planned for India this year and may bid in a tender expected in France this month for incentives to build solar developments, said Managing Partner Thomas Rottner.

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