Another solar firm joins bandwagon -Governance Now

Another solar firm joins bandwagon

Will invest Rs 2000 crore in India over next three years

Neha Sethi | June 10, 2010

A solar power company from the United States has launched a joint venture in India. It will install 100 MW of capacity over the next three years in the country. American Capital Energy Inc. (ACE) and MSM Energy (MSME) have come together to form a new entity, Indian Capital Energy (ICE) Solar.

ICE Solar is setting up a five MW solar power plant in Gujarat for Tatith Pvt. Ltd. “The facility is expected to be completed by the end of this year,” said Walter Borden, the managing director, Asia Pacific for ACE. He also said that the company is looking at generation of only grid connected solar power for the first phase of 100 KW.
“We plan to invest Rs 2000 crore in India over the next three years,” added Borden.

Madhav Muvvala, president, MSME said that they were looking at commercial rooftop and ground mounted solar installations for now. “We are also planning to have future projects in Rajasthan, Delhi, Andhra Pradesh and Karnataka,” he added.

The company is providing photovoltaic solar engineering, procurement and construction services.

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