Swiss firm Talesun Solar Switzerland A.G. has formed a joint venture with New Delhi-based solar asset developer EnergyX to develop 4 GW of solar capacity worth Rs 200 billion in India by year 2022.
Talesun Solar Switzerland is a subsidiary of Zhongli Talesun Solar—a leading producer of solar modules and solar cells, and PV project developer both in China and the world, with annual module manufacturing capacity of 2.8 GW and over 6 GW solar assets across the globe.
“With our cross continental experience in project development and EPC and in-house supply of solar panel, we are confident that we will carve a niche in the Indian solar market,” John Martin Thomas, managing director, Talesun Solar Switzerland AG was quoted as saying by daily newspaper Economic Times.
EnergyX has built a sizeable portfolio of ground-mounted utility-scale solar across India for an array of investors, including more than 200 MW under Open Access third-party power purchase agreement (PPA) and more than 120 MW in PPA with the state government. It also provides rooftop and floating solar services, and is eyeing the electric vehicle market as well.
“The joint venture will provide us with an edge on complete project development and the control over crucial project timeline,” Ajay Pratap Singh, CEO of EnergyX said.
EnergyX is working closely with State Bank of India (SBI) on projects under a $650 million credit facility extended by the World Bank for development of solar projects specifically for Industrial consumers, Economic Times reported.