New Delhi – August 1, 2013: India’s electricity shortage due to rapid economic expansion together with high levels solar irradiation and high electricity prices paid by industrial customers make large-scale solar installations for self consumption a financially attractive alternative source of energy. “Solar-generated power for captive consumption not only guards businesses against increasing electricity prices, it also provides good investment opportunity,” said Shailendra Mohan Bebortha, Managing Director India, REC. “We see self-consumption as a key business model for solar in India because it doesn’t depend on incentive schemes, has no restrictions on system sizes, has low level of bureaucracy and makes industrial customers independent from fluctuations in energy prices.”
“As a daily newspaper, we are dependent on a stable and reliable grid. To be more independent, we decided to invest in solar energy or more specifically, in captive solar consumption,” explained Mr. G. Rajendra Babu, General Manager, Eenadu. “With increasing electricity costs on the one hand and the intermittent energy supply on the other, we can save a lot of money by using the energy produced by the solar installation itself and at the same time fulfill our corporate environmental policy.”
Being built by Photon Energy Systems Limited, a leading Indian EPC, the plant will be completed by the end of September, 2013. “REC’s high efficiency and high quality solar panels with their 25 year linear power output warranty made REC a natural choice for this project. These modules coupled with Photon’s superior engineering expertise should result in the plant generating one of the highest energy per Wp in India” said Mr. Gautham Nalamada, CEO, Photon.
India’s power deficit is highest in the southern Indian state of Andhra Pradesh and increased from three percent in 2011 to 16 percent in January 2013. Thousands of small and medium enterprises have already closed due to the power shortage. The abundant solar irradiation level of more than 1,900 W per m2 and recently announced incentives and policies for the allocation of 1 GW of solar projects under the Andhra Pradesh Solar Policy 2012 make this Indian state a promising market for REC in 2014.
From August 1-3, 2013, REC will be present at the Solarcon exhibition in Bangalore, India. At booth 51, REC presents its award-winning products and solutions as well as the strong capabilities and reference cases of REC as a full-service large-scale system integrator. Executives and local representatives are on hand to discuss its industry leading technology and expectations for the Indian solar market as well as industry trends such as self-consumption.
For further information please contact:
Public Relations Manager, REC Solar Sales and Marketing GmbH
Leopoldstr. 175, 80804 Munich, Germany
Phone: +49 89 54 04 67 223
REC is a leading global provider of solar electricity solutions. With nearly two decades of expertise, we offer sustainable, high-performing products, services and investment opportunities for the solar and electronics industries. Together with our partners, we create value by providing solutions that better meet the world’s growing electricity needs. Our 2,300 employees worldwide generated revenues of more than NOK 7 billion in 2012, approximately EUR 1 billion or USD 1.3 billion.
To see more of what REC can offer, visit www.recgroup.com