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First Solar India

First Solar Likely To Sell 200 Megawatt Capacity In India

written by saurabh

World’s largest thin-film solar power panel manufacturer First Solar is expected to sell 200 megawatts capacity in India as it looks to return focus back to its core business.

According to media reports, First Solar could sell 200 megawatts capacity in India at a value of $200 million. The company has 260 megawatts spread across the states of Andhra Pradesh and Telangana. These projects were awarded to the company in reverse auctions.

First Solar has supplied over 17 gigawatts of solar panels globally, including 1 gigawatts in India. The company is among the largest suppliers of solar panels to Indian developers.

In early 2015, First Solar made a commitment to set up 5 GW of solar power capacity in India over a period of 5 years. In 2014, the company announced plans to install a 45 MW solar power project in the southern Indian state of Telangana. The project entered long-term agreement for the sale of electricity at a tariff of Rs 6.49/kWh (9.9¢/kWh).

First Solar has not actively participated in recent solar power auctions in India which have been extremely competitive. Perhaps this is the reason the company is looking to stay clear of this non-core business. With tariff falling to record-low of Rs 3.30/kWh, the projects offered by First Solar will be highly attractive to project developers.

This will be the third major acquisition in the Indian solar power market in recent times. Tata Power Renewable Energy acquired 1,100 megawatts capacity from Welspun Energy. Greenko Energy Holdings acquired assets from SunEdison India.

03/21/2017 0 comment

Renewable Energy

First Solar Commissions 130 MW Capacity In India

written by saurabh

US-based solar module manufacturer First Solar has announced commissioning of two solar projects totalling 130 MW in the southern states of India through its Indian subsidiary, First Solar Power India Pvt. Ltd.

The company declared commercial operations of 80 MW solar PV project in the state of Andhra Pradesh and 50 MW solar PV project in the state of Telangana. With these projects the cumulative operational capacity owned by First Solar in India has increased to 150 MW.

The projects comprises of 1.4 million First Solar modules and are together expected to generate enough electricity to power approximately 227,500 local households annually and would offset 204,000 tonnes of carbon dioxide (CO2) emissions each year.

Power generated from these projects will be purchased by the local utilities Southern Power Distribution Company of Andhra Pradesh and Telangana State Southern Power Distribution Company under 25 year long-term power purchase agreements.

“After achieving a recent milestone of 1 GW of PV solar capacity footprint in India, we are delighted to add 130 MW of utility-scale solar power to the grid, growing our portfolio of operational solar assets to a cumulative capacity of 150 MW,” commented First Solar’s Country Head for India Sujoy Ghosh.

First Solar has been active in the India market since before the inception of the National Solar Mission. Earlier this year, the company had announced that its cumulative solar power module shipment to India has crossed 1 GW and it has become the first thin-film solar panel manufacturer to achieve this feat.

08/24/2016 0 comment

Renewable Energy

First Solar Completes 1 GW Solar Panels Shipment To India

written by saurabh

At a time when India and the US are sparring over the former’s policy on use of domestically manufactured solar power modules, a US-based module manufacturer has achieved a landmark achievement.

First Solar has announced that its cumulative solar power module shipment to India has crossed 1 GW and it has become the first thin-film solar panel manufacturer to achieve this feat. The achievement no mean feat when one considers the domination of Chinese manufacturers in the Indian market.

In FY2013-14, of all the solar power modules imported into India 65% were from Chinese manufacturers. This figure increased to 70% in the subsequent financial year. Foreign companies have benefitted from Indian government’s policy not to impose anti-dumping duties on imported solar power modules.

First Solar has been active in the India market since the inception of the National Solar Mission. It is also believed to have supplied modules to several projects in the Charanka solar power park in Gujarat which predates the launch of National Solar Mission.

The company claims that its modules delivers additional 5-9% energy yield compared to polycrystalline modules. The company has also benefitted from the financial contracts of project developers with US financial institutions, especially the US Export-Import Bank.

First Solar had pledged, in February 2015, to install 5 GW solar power capacity in India over a period of 5 years. Last year, the company participated in several competitive auctions and secured some projects in the southern states of Telangana and Andhra Pradesh. The company now owns a pipeline of 200 MW capacity across various states in the country.

03/30/2016 0 comment