India's Sunborne Energy Links with Suntech Power to Target 1,000 Megawatts of Solar Power by 2018

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Johannesburg, South Africa)--Sunborne Energy (SE) (Gurgaon, India) is planning to develop more than 1,000 megawatts (MW) of solar power and achieve grid parity cost with fossil fuels in India by 2018. The company is also planning to commission more than 200 MW of solar power plants by 2014.

As a part of a strategy to become a leading solar power project developer SE has entered for the supply of 100 MW of solar panels a framework agreement with Suntech Power Holdings (NYSE:STP) (Wuxi, China). Suntech will supply 280 watts peak (Wp) polycrystalline modules for projects to be designed, installed and commissioned by SE. "Watt peak" is the amount of power that a photovoltaic (PV) module is able to supply when it receives 1,000 watts per square meter of solar irradiance or, by rule of thumb, the amount of power a PV module produces at noon with no clouds blocking the sun directly overhead.

An initial 10 MW of solar panels will be assigned to a project in Gujarat. The first plant will be constructed using parabolic concentrated solar power (CSP) technology, as the company sees this as a proven technology at the utility scale. The project will accelerate the company's learning curve on technology, financing and project development.

SE aims to reduce capital costs, develop more cost-effective designs, and create high-tech jobs in India by using the strong pool of local engineering talent and developing a local supply chain of component suppliers. The company is developing utility-scale solution plants in the Indian states of Gujarat, Rajasthan and Andhra Pradesh, and has plans for other states in the pipeline and a global network of solar technology advisers.

SE is backed by high-tech venture capital companies General Catalyst Partners (Cambridge, Massachusetts) and Khosla Ventures (Menlo Park, California).

Suntech Power has delivered more than 15 million PV panels to more than 1,000 clients in more than 80 countries, and has research and development programs driving solar power toward grid parity with fossil fuels.

"We are excited to partner with Sunborne Energy to drive solar industry growth in India," said Suntech Chairman and CEO Dr. Zhengrong Shi. "Currently, one in three people in India lack reliable access to electricity, and the rapid deployment of solar energy has the potential to close the gap. This project will provide thousands of people in India with clean and affordable power."

The drive for solar power has support from federal and state governments, with a PV power installation target of 2,000 MW off-grid and 20,000 MW on grid by 2022.

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