American company First Solar has bagged an order for the supply of 50 MW worth of solar photo voltaic panels from Kiran Energy and Mahindra Solar One. Mahindra Solar One is a joint venture of the Bessemmer Ventures and IFC-funded Kiran Energy and the Mahindra group.
Kiran Energy won a 20 MW project in the second round of bidding under the National Solar Mission. Mahindra Solar One won two projects, of 20 MW and 10 MW, in the same round. These projects are coming up in Rajasthan. Both the companies quoted a tariff of Rs 9.34 a unit.
First Solar will supply more than 585,000 thin-film solar modules for the two companies. Construction of both project are expected to begin this year and will be completed in the first quarter of 2013.
The value of the order has not been disclosed, but a MW of solar panels today sells at about Rs 4 crore.
Together, the side-by-side projects are expected to produce an average of more than 85,000 megawatt-hours of clean electricity per year, equivalent to the annual electricity needs of more than 97,000 average Indian households, and displace more than 80,000 tons of CO{-2} per year based on the national averages, says a press release from Kiran Energy and Mahindra Solar One.
The Kiran Energy, Mahindra Solar One order comes to First Solar close on the heels of the company bagging another order for 25 MW from Green Infra, which is putting up two projects of 20 MW each in Rajasthan, under the National Solar Mission.
In a recent interview to Business Line, Sujoy Ghosh, Country Head, First Solar, had said that the company’s solar panels are better suited for hot climates such as India’s, because thin-film (cadmium telluride technology) modules produce more power than crystalline modules under conditions of hot temperature and diffused sunlight.
First Solar has supplied panels to solar PV projects in India with a total capacity of 225 MW in India, which gives the company over 20 per cent market share.