Domestic solar power developer SunBorne Energy has tied up with China's Suntech Power Holdings Co for supply of 100 MW of solar panels over the next two years for projects in India at an estimated cost of $150 million.
In a statement issued here, SunBorne said, “Suntech will supply 280 Wp polycrystalline silicon modules for projects that will be designed, installed and commissioned by SunBorne Energy.”
The agreement includes an initial order for 10 MW of solar panels for a project in Gujarat.
“We chose Suntech because of their clear technology leadership and long-term commitment to India…. This partnership reiterates our action plan of providing cost-effective utility scale solar solutions and targeting grid parity by 2017,” said Mr James Abraham, Managing Director & CEO, SunBorne Energy.
Backed by Government support, the solar industry in India has been growing rapidly. India has a target to reach a cumulative installation of 2 GW of off-grid and 20 GW of on-grid PV installations by 2022 to help meet the country's burgeoning energy demands.
Solar technology is particularly well suited to address booming energy consumption across India, as primary energy demand is expected to increase by 3.1 per cent annually from 2008 to 2035, according to the IEA's 2010 World Energy Outlook.
SunBorne is developing utility scale solution plants in Gujarat, Rajasthan and Andhra Pradesh with other States in the pipeline.