|
| REC averse to manufacturing presence in India |
| BS Reporter / Chennai/ Hyderabad Nov 10, 2011, 00:28 IST |
|
Norway-based vertically-integrated player in the solar energy industry Renewable Energy Corporation (REC) today said it was unlikely to set up its manufacturing presence in India in the short-term as the government policy doesn’t give an equal footing to all but favours local manufacturers.
The company would rather explore partnership opportunities to expand its presence and is in dialogue with a couple of players to supply its modules to plants that are potentially worth 10-15 Mw.
“The government should have a market-centric approach than a protectionist approach. The policy in its current shape favours local manufacturers. We don’t necessarily want to invest in India in manufacturing but are rather looking at business development for now and possibly in research later,” said Anil Yadav, head of Indian sub-continent region, REC Solar Asia Pacific. Yadav said the company was also testing its products in the field and would soon set up a local REC office in the country.
According to REC, the global solar energy sector, which is reeling under capital constraints, is in a consolidation mode.
Meanwhile, a report titled The India Solar Market: Strategy, Players, and Opportunities from GTM Research and Bridge to India, says over the next five years, India is expected to become an anchor of global solar demand, installing more than 9 giga watt between 2011 and 2016.
REC, at Solarcon 2011 on Wednesday, announced it was selected as module supplier for a 5-Mw power plant developed by Kanoria Chemicals and Industries Limited in Rajasthan.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
