Suryachakra Power Venture, a group company of Suryachakra Power Corporation, has entered into a 50:50 joint venture with a German company, MAN Solar Millennium for developing and setting up concentrated solar thermal power projects in India.
KV Subramaniyam, director, Suryachakra Power Venture, says, ?We plan to set up 5 mw solar thermal power plants in Chhattisgarh and Maharashtra.? The states were chosen after conducting a thorough study.
MAN Solar Millennium, which specialises in project development, financing and the construction of solar thermal power plants, is also keen on investing in India. Ruud Dekkers, executive director, MAN Solar Millennium, adds, ?India has a high demand for power consumption. Since more capacity is needed, the country should look beyond coal and gas and harness renewables.?
India has already identified renewable energy as a pillar of its energy security, and is investing billions of rupees to become a green energy powerhouse. India has been tapping renewable energy sources like wind and hydropower for decades.
The government of India is also due to unveil its National Solar Mission on November 14, which will lay down the road map to reach a target of installing 20,000 MW of solar power by 2020. Subramaniyam and Dekkers are keeping their fingers crossed to see how the mission is rolled out. They intend to revisit their plans after the roll out because the government is expected to put in place favourable policies to bring down the cost of solar energy and promote investment in the sector.
There are a lot of reasons for these projections, say experts. The country has conducive conditions for tapping solar energy because it gets solar energy equivalent of 5,000 trillion kWh per year. This figure is much more than the country?s total energy consumption. India is geographically well located, densely populated and the industry is well supported by government policies. These factors are helping India to become one of the most rapidly emerging solar energy markets in the world.
Besides, solar energy has enormous potential in a tropical country like India where around 45% of households, mainly rural ones, do not have access to electricity, says a new research report, Indian Solar Energy Market Outlook 2012, which has been brought out by leading research company RNCOS.
The report adds that the demand for solar products has been rising rapidly over the recent years, especially in rural areas, and is expected to continue growing substantially during 2009-2012. For example, the total number of solar lanterns in India is projected to grow at a CAGR of about 40% between 2009 and 2012.
It?s little wonder then that India hopes its solar energy pursuits will not only address its growing energy needs, but also create some 100,000 new jobs in the next 10 years, according to the National Solar Mission draft document. Subramaniyam adds,
?Besides, the country has knowledge-based manpower. The country can be a global hub for outsourcing of equipment and services (like EPC, operational management service and detailed engineering).? Of course, it also depends upon how the National Solar Mission is rolled out.