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Daily Archives: October 26, 2011

Mahindra to enter solar energy in India

According to reports, the $12.5 billion Mahindra group is diversifying into solar energy through its in-house private equity arm Mahindra Partners. The solar business, part of Mahindra’s Clean Tech vertical, will be involved in on-grid solar plants, off-grid or captive solar plants, solar power products and EPC contracts. Mahindra Solar has already bagged a 5MW project in Rajasthan which will be up and running by January 2012. It will also bid for projects in states like Gujarat, Rajasthan and Karnataka, ... Read More »

Sunshine on solar power in India

According to reports, the chase to set up solar power units in India has more to it than the country’s tropical locale. Earlier this month, over 150 companies evinced interest in setting up plants grossing 2,500 megawatts (MW) in response to a government invitation for 350MW. The invitation, which is the second offering under the first phase of the National Solar Mission (NSM) policy, is no doubt tempting. The winners don’t have to deal directly with the buyers of power—distribution ... Read More »

Thin film investments and opportunity in India with the IFC

According to reports, Joseph Hudgins, Principal Solar Scientist, Climate Business Group of the IFC, put a positive spin on a difficult year for the PV industry. “Despite the tumultuous market and hard financial times, it is exciting to see the cost for an installed PV system at or below $2.50,” he explained. “This is near the tipping point which enables the market to pull the supply chain and provide competitive power to some of the global regions that need it ... Read More »

India confronts US, EU at WTO over national solar power generation programme

According to reports, India has stoutly defended its national solar power generation programme at the World Trade Organisation (WTO), where the US and the EU raised objections to its requirement of mandatory use of locally-made equipment. India refuted allegations at a recent meeting of the WTO’s committee on trade related investment measures, or Trims, that the Jawaharlal Nehru National Solar Mission violated global trade rules, a government official told ET. “The mandatory use of solar modules manufactured in India, in ... Read More »

First Solar Plunges Most Ever After Chief Gillette Departs

According to reports, Rob Gillette has left First Solar Inc. after almost doubling production capacity during the two years he ran the world’s biggest maker of thin-film solar panels. “Effective immediately, Rob Gillette is no longer serving as chief executive officer,” the Tempe, Arizona-based company said today in a statement that didn’t give a reason. Chairman and founder Mike Ahearn, 54, was named interim CEO. With demand and prices for solar panels falling, expanding First Solar’s production may have been ... Read More »

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