Tuesday, May 31, 2011

First Solar might invest $500 million to build a Thin Film Solar Factory

First Solar might invest $500 million to build a Thin Film Solar Factory near Chennai,India – Preempt Domestic Content Requirements

Solar Energy in India is poised to be the biggest Energy opportunity in the 21st century and nobody realizes it better than top solar companies in the world.First Solar which is the biggest thin film company in the world and the most valuable solar manufacturer might be close to investing $500 million to build a solar factory in India.First Solar is the largest producer of solar panels in the world using its proprietary thin film technology.The company is also one of the biggest utility solar system developer in the world focusing mainly on the North American Market.The company has built and sold the world’s largest solar farms in Sarnia,Ontario.The company has beefed up its solar installation business by buying a number of solar developers like Optisolar,Turner etc.

First Solar may invest $500 million in Tamil Nadu,India

According to the Financial Express, a top US Thin Film Based module manufacturer is exploring the possibility of setting up a facility in Tamil Nadu with an investment of $500 million (about R2,255 crore) in the coming months.Note the sources have not revealed the name of the company but it is clear from the investment amount,solar technology that the company is First Solar.A a top level team from the company is expected to visit sometime early next week to initiate discussions with the state government officials.Note First Solar has emphasized the importance of India for its growth aiming to supply 100 MW of solar panels in 2011 itself which would make it a leader in the Indian solar industry.Other top solar panel companies like Suntech and Trina too have invested heavily in selling their solar panels in India through partnerships with local companies.

First Solar not getting too much success in China,so it may be putting redirecting its investment dollars to India

First Solar has been facing massive hurdles in getting solar projects in China which is home to most of the top solar panel producing companies in the world.Its 2 GW Ordos project has been delayed a number of times forcing First Solar to tie up with one of the Big Five utilities in China.Note foreign companies in China routinely face discrimination and the Chinese protectionism and discrimination issue has been raised by government as well as top companies like Siemens.On the other hand India does not have such a policy though it has put in a domestic content requirement for solar projects under J
NNSM.This does not apply to thin film technology yet but First Solar may be looking to preempt this by building a solar factory in India.         

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