India's Titan Energy Systems and Belgium's Enfinity Plan 1,000-Megawatt Solar Photovoltaic Installations in India

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Researched by Industrial Info Resources (Sugar Land, Texas)--Belgian renewable energy developer Enfinity (Waregem, Belgium) and Indian photovoltaic (PV) manufacturer Titan Energy Systems Limited (TES) (Secunderabad, Andhra Pradesh) plan to develop solar photovoltaic installations capable of generating up to 1,000 megawatts (MW) of power. The installations are scheduled to be developed during the next five years in the southern state of Andhra Pradesh in India, where a 3,000-acre stretch of land has already been leased for the project.

The solar venture will be implemented by means of a special purpose vehicle (SPV) established to manage the project, which, in the near future is likely to enter into power purchase agreements. The SPV will also ensure that the PV installations are linked to the national power grid.

Both partners have chalked out clear-cut roles in the project. While TES will supply the required PV modules and act as contractor, Enfinity will be responsible for the funding and development of the venture.

The project has been planned in phases with the 500-MW Phase I expected to be completed in five years. Total investments for the first phase have been pegged at $1.62 billion at the current cost of $3.25 million per MW of power produced. The required funds are expected to be sourced from banks and other equity-financed private companies.

Land allocation for the project has been cleared with Andhra Pradesh Industrial Infrastructure Corporation Limited (Hyderabad, Andhra Pradesh) leasing about 3,000 acres of land across five villages in the Anantapur district and the Amadugur Industrial Park near Kadiri.

TES is a leading player in the design, development, production and export of PV modules across a range of capacities from 2-watt-peak (Wp) to 300-Wp. Wp is a unit of power used to measure the output of solar cells in the solar power industry. With 19 years of experience in the sector, TES specializes in the production of high-quality crystalline and thin-film PV modules. Both its quality processes and products comply with international standards such as ISO 9001-2000, American Quality Accessories, IEC 61215:2005 and IEC 61730-2, enabling a wide product reach across the globe. In addition, TES products are also approved by the Indian ministries of defence, telecommunication, new and renewable energy, and railways. TES products also play a significant role in rural electrification schemes.

Enfinity focuses on harnessing wind and solar energy across the globe. The company's range of services includes project development, management, and funding, with the funding structure involving banks as well as private equity. The company was founded in 2005 and is active in 12 countries across the U.S., Europe and Asia. Enfinity also offers custom end-to-end solutions in the sector.

With the Indian government's roadmap for solar energy indicating targets of 20,000 MW by 2020, 100,000 MW by 2030 and 200,000 MW by 2050, this large project is likely to pave the way for future ventures. TES already has the distinction of establishing the first 2-megawatt-peak unit in the country, while Enfinity has about 145 MW of projects under way and hundreds of megawatts of power lined up for financing and implementation in 2010.

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