First Solar is planning to put up solar manufacturing facility in India

 

According to sources, US based renewable energy major First Solar is actively evaluating possibilities for setting up a solar modules manufacturing facility in India.

According to the company the move is to tap into the country’s growing renewable power market given the Government’s recent thrust on the sector.

However, the company hasn't yet made a decision as it depends upon how demand develops over the next several years.

As said by the Company

"We have continuously evaluated the possibility of putting manufacturing in India and there are many reasons that it might, at some point, be attractive. We need to see continuous and sustainable demand and we need to see visible demand into the future before it will justify the level of capital investment that is involved.”

During the RE-INVEST, First Solar has committed to to build projects to generate 5 GW of solar power in India by 2019.

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GE & First Solar to enter into Technology & stake sell and purchase agreement...

 

General Electric (GE) and First Solar have decided to join their competing thin-film solar panel technologies in an effort to improve efficiency and decrease costs.

First Solar is the world's largest producer of thin-film panels and among the world's largest solar farm developers. GE's thin-film technology has performed well in lab tests, but is not manufactured at large scale.

As announced by the companies on 6th August, they will enter into agreements for the technology tie-up and stake purchase.  

As per the agreement contract:

• First Solar will acquire GE's technology for making thin film panels.
• In return, GE will receive 1.75 million shares of First Solar stock. That represents $82 million, and 2 percent of First Solar's outstanding shares.
• First Solar will attempt to incorporate GE's technology into its extensive and well-developed manufacturing process.
• GE will purchase and brand First Solar panels for its own installations.

According to sources, the reason behind this move of GE is the glut of solar panels on the market and falling prices.

Due to this, GE's Denver factor which was having annual capacity of 400 MWs will be shut down along with a research center with around 400 people loosing their jobs.

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More literature on this...

• http://economictimes.indiatimes.com/news/international-business/ge-takes-stake-in-first-solar-inc-to-share-technology/articleshow/21672437.cms
• http://www.lakewyliepilot.com/2013/08/06/2010823/ge-scraps-nations-largest-solar.html

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Mr. Sujay Ghosh – First Solar’s new India Business Head…

Mr. Sujay Ghosh has been appointed as Head – India Business Development for the First Solar, USA based manufacturer of Solar Photovoltaic Systems.

 

As said by First Solar;

“In this new role, Ghosh will be responsible for advancing and executing First Solar’s business strategy to expand the market for utility-scale solar photovoltaic (PV) power plants and to deliver value to Indian solar power producers,”

 

Currently, Mr, Ghosh will be reporting to Mr. Jim Brown which is the Vice President of First Solar’s Global Business Development.

Mr Ghosh would report to First Solar Executive Vice-President for Global Business Development, Mr Jim Brown.

 

As said by Mr. Brown:

“India is a land of immense opportunity for solar energy and First Solar, and we will continue to invest here as part of our strategy to develop sustainable, utility—scale solar markets where energy demand is strong and growing,”

Prior to this appointment, Mr Ghosh was with GE Energy where he was regional general manager for power generation business.

 

India accounted for about eight per cent of First Solar’s net sales in 2011.

 

 

 

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More Literature on this topic:

• http://www.thehindubusinessline.com/companies/article3380217.ece
• http://articles.economictimes.indiatimes.com/2012-05-03/news/31558971_1_first-solar-solar-energy-solar-power

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