Subsidiary of UK-based Solargise Limited in India has announced ambitious capacity addition plans over the next 4 years.
Solargise India Limited recently announced plans to set up 2 GW of solar power capacity over the next 4 years. The company plans to invest Rs 12,000 crore (US$1.8 billion) for this venture.
Apart from solar power projects development, the company also plans to set up sizable manufacturing capabilities. It has announced plans to set up solar cell and module manufacturing facilities of 500 MW per annum capacity.
The company shall set up the manufacturing facilities at Bengaluru but did not specify which states it plans to target for the 2 GW solar power capacity addition target.
Solargise India has partnered with General Electric for engineering, procurement and construction services. GE shall supply inverters, transformers and SCADA systems to manage the projects.
A number of foreign project developers have been attracted to the Indian solar power market over the last few months following announcement of one of most ambitious capacity addition targets in the world. The likes of SunEdison, SkyPower Global, Fortum Group and many others are already among the leaders in Indian solar power market.
Image: Solargise India signing MoU with government of Karnataka (Source: Solargise)