The attempt to make investment in solar energy production in India user-friendly and to reduce financial risks was initiated as the Jawaharlal Nehru National Solar Mission in November 2009. The task for the mission was to provide an attractive and extended tariff for solar power production investment and foreign involvement.
Developers of solar power capable for producing at least 100 megawatts will be chosen by the end of August according to the Solar Energy Manufacturers Association of India. Foreign investment of $3.5 billion is expected from major global firms such as Tempe, AZ- based U.S. firm First Solar. Also, two other U.S.-based solar energy companies, North Chelmsford, MA-based American Capital Energy and Bridgewater, NJ-based MSM Energy announced a joint venture concerning engineering, purchasing and solar energy construction projects in India. The always growing need for alternative sources for has attracted intereste from companies such as Pasadena, Calif.-based eSolar (which is an idealab! company and I was associated with idealab! in the late 1990s). eSolar and others may provide the advanced technology necessary to meet India’s goals for developing a pilot project producing 100 MW of solar power sponsored by the Indian Renewable Energy Development Agency.
According to N. Uttam Kumar Reddy, chair for the Solar Energy Manufacturers Association of India, more than 200 applications have been presented to several states, with the state of Andhra Pradesh receiving more than 30 alone; Three Andhra solar companies – Titan Energy Systems, Photon Energy Systems and Solar Semiconductor. The Non-Conventional Energy Development Corp. of Andhra Pradesh will select qualified developers drawing lots.
India produces only 30 MW today and wishes to expand to 20 GW by 2022.
