Canadian Solar 'in 20MW India deal'
Canadian Solar and Italian inverter maker Bonfiglioli have won a 20MW order for a PV project in the Indian state of Tamil Nadu being built for a consortium of textile manufacturers, according to local reports.
Chemtrols Solar, the PV subsidiary of the Mumbai-based Chemtrols conglomerate, is handling EPC work.
Sharad Saxen, chief executive of Chemtrols Solar, is quoted by the Hindu Business Line as saying the modules were procured for a little over $0.60 per watt and the inverters for $0.12 per watt.
The customer – a group of textile firms in the power-starved Tiruchi district of Tamil Nadu – specifically requested Canadian Solar modules as they did not trust the consistency of quality at domestic manufacturers, Saxen says.
The project will pay for itself in four years in the context of a functioning market for Renewable Energy Certificates, or six years without, he adds.
Bologna-based Bonfiglioli claims to be the leading supplier of PV inverters to the snowballing Indian market, with a 24% market share as of early June, and more than 500MW installed.
Canadian Solar did not publish a press statement regarding the deal, and did not immediately respond to Recharge’s request to confirm the order.
The Ontario-based PV giant, which performs nearly 90% of its manufacturing in China, has aggressively expanded its sales presence into emerging markets around the world, having recently picked up orders in countries such as Tanzania and Turkey.