Dec. 2, 2013 - ET Solar has delivered 1MW photovoltaic modules to a solar power plant in Tada, Andhra Pradesh, India, as a technical and commercial co-development partner of Marigold Steel & Power Pvt. Ltd ("Marigold").
The plant is owned by Indo-National Ltd. Marigold was the project developer and ET Solar provided project design, technology consulting, equipment supply and sourcing support. Designed to power the manufacturing facilities located in its vicinity, the power plant will be fully constructed and connected to the grid by the end of this year, and is expected to operate at very high efficiencies in the next 25 years.
ET Solar also entered into a cooperation framework agreement with Marigold to deliver professional technical and commercial support on project development, engineering, procurement, construction, operation, maintenance and financing for upcoming opportunities.
Mr. B. Prabhakar, director of Marigold, said, "ET Solar enjoys a good reputation in the Indian solar market for its high quality products and engineering expertise. We are particularly impressed by ET Solar's value added services on design, procurement and technology consultation in addition to the high quality modules it provided. We very much look forward to working with ET Solar as we execute our project pipeline in the years to come."
"With high levels of solar irradiation and electricity shortage from the rapid economic expansion, Indian government has been boosting investment in the solar PV sector very strongly in the recent years. Industrial players installing solar systems to power their own manufacturing facilities is becoming increasingly popular as it does not rely heavily on incentive schemes, has no restrictions on system size and makes industrial customers independent from fluctuations in energy prices. This is a very promising field for Marigold and ET Solar going forward," B. Prabhakar added.
"Rising electricity demand, high irradiation levels and favorable government policies are driving the growth of the solar industry in India," Mr. Dennis She, President and CEO of ET Solar, commented. "We've made inroads here, transforming ourselves to a turn-key solutions player that provides value added services and makes a real difference. We really appreciate the partnership with Marigold, and we're confident that we will complete greater projects together."