Rolling out the red carpet to foreign companies in joining India’s 100-GW solar mission is a smart move, as it can cut costs and bring cutting-edge technology, says Helena Li, President of China’s Trina Solar, which has 20 per cent share in India’s solar panels’ market.
“Indian local manufacturing capacity is not developed enough to be as cost-competitive as China’s, for instance. So the Indian government’s push for solar power and its strategy to invite foreign companies to build the industry locally is a smart move,” Li, who oversees Trina’s Asia, Pacific and Middle East business, said. Trina Solar, established in China in 1997, and listed on the New York Stock Exchange since 2006, has installed 19 gigawatts (GW) of photovoltaic modules worldwide. In India, Trina, has already sold 1.5 GW of solar PVs and will have done business of 2 GW by the end of the year. Total solar panels capacity installed in India is around 8 GW. Trina’s clients in India include energy majors like Wellspun, Hero Future Energies, ACME and Renew Power. It has, in 2014, supplied 600,000 solar panels for India’s largest solar project of 151 megawatt at Neemuch in Madhya Pradesh.