According to reports, power development company PIH Energy is setting up a 100 mw solar farm in Gujarat.
The project will create the ecosystem for the solar farm and will invite other power developers to be part of it and bring in corresponding investments, said a senior official of the company in Hyderabad on Thursday. The development cost per one mega watt of the project is expected to be about Rs 10 crore.
The company is into development, financing, execution and operation of renewable energy projects. Its focus areas are promotion and construction of utility scale ground-mounted photovoltaic and wind power plants.
PIH Energy is a partner of Spain-based Grupo Ortiz subsidiary EPC company Ortiz Energy, which on Thursday entered into an alliance with Hyderabad-based solar PV manufacturer Titan Energy Systems to offer EPC services and solar power plant development in the country.
Under the partnership, Titan will be assured of an annual module sales of over 50-75 mw. The joint venture has plans to develop 300 mw of solar plants in India over five years, said Rao Sys Chodagam, founder and managing director of Titan Energy.
Titan, which has at present 100 mw module capacity per year at solar module also plans to increase it to 150 mw in view of the possible increase in demand for photovoltaic modules, he said.
In addition, the joint venture will also offer EPC and operation and maintenance services to independent power developers.