According to reports, BORG Energy India, an arm of US-based BORG Inc, is considering two sites in Haryana and Andhra Pradesh for setting a solar equipment assembly plant, which will cater to domestic market and African region.
The company says it will finalise the location once the political situation in Andhra Pradesh is clear.
“We are looking at a location for setting up an assembly plant which will cater to the Indian and African markets. We have seen locations in Andhra Pradesh and Haryana and will soon finalise once the political situation in AP is clear,” Boaz Augustin Junior, CMD (Asia Pacific Region) BORG Inc said.
However, he did not specify the sites in the two states. He added that the budget for this facility will be finalised in the next financial year starting April 1, 2014.
BORG Energy India, which is already investing $45 million, including in the rural electrification projects in the next six months, plans to set up a base here which will help the firm to cater to other countries also.
“We will source it from other manufacturers from all over the world and assemble it here,” he said.
The solar power company, which is bullish on India, also intends to explore the retail solar product market here besides funding of projects.
“We have a long-term plan for India. Right now our focus is to explore the retail market in the room utility scheme and energy services space,” he said.
Part of the company’s investment of $45 million will be utilised towards funding solar power projects.
“The company will look at funding solar power projects,” he said, adding that it may provide debt to some projects or pick up equity in others, depending on the demand.”
Research and Development (R&D) is an area, where India has a lot of scope and the company will invest in that area in the due course of time, he added.
BORG Energy India is engaged in R&D, design, manufacture and supply of micro solar power plants.