Connect with us

Hi, what are you looking for?

CleanTechnica
Make in India logo with a backdrop of solar panels (Source)

Clean Power

China’s Zhenfa Enters Indian Solar Market With 2 GW Pact

In the recent past numerous foreign developers and investors have gained a foothold in the flourishing Indian solar market attracted by its massive target of 100 GW capacity by 2022.

According to a recent announcement, Indian solar module manufacturer Rolta Power has signed a memorandum of understanding with Chinese firm Zhenfa New Energy Science and Technology to jointly develop solar power projects in India.

Under the terms of agreement, the companies will together install 2 GW of solar power projects by 2020, which is expected to generate revenue of around $2.03 billion. The deal also means that modules manufacturer Rolta India would enter the project development space, as the government plans to ease limitations on use of cheaper foreign modules. Domestic module manufacturers in India have lost significant market share to foreign companies, like First Solar, over the last few years.

Zhenfa Chairman Zhenfa Zha said, through this partnership, Zhenfa would bring its extensive engineering, procurement, and construction (EPC) skills and advanced technologies to construct utility-scale solar power projects in India, which will help alleviate the severe shortage of power supply in the country.

The Indian government plans to establish 100 GW of solar projects all over the country by 2022 through the Jawaharlal Nehru National Solar Mission (JNNSM). Such an ambitious target will indeed require huge investments from foreign companies. The current capacity addition target set by Rolta and Zhenfa will help them secure a 2% share of the 100 GW market.

Zhenfa New Energy Science and Technology is a part of the Jiangsu Zhenfa Holding Group which has developed 3 GW of solar projects in the Chinese market accounting for 10% of the country’s solar photovoltaic market.

 
 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

Smiti works as a senior solar engineer at a reputed engineering and management consultancy. She has conducted due diligence of several solar PV projects in India and Southeast Asia. She has keen interest in renewable energy, green buildings, environmental sustainability, and biofuels. She currently resides in New Delhi, India.

Comments

You May Also Like

Clean Power

Welcome to another issue of our India x Cleantech series! On a monthly basis, we are pulling news from across clean technology sectors in...

Clean Power

Private equity investment firm KKR has announced plans to acquire a stake in a budding renewable energy platform in India.  The firm will reportedly...

Batteries

  In Delhi, India, Gogoro Inc. and Zypp Electric have announced a strategic B2B initiative and partnership that will accelerate the urban shift of...

Copyright © 2022 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.