Risen will supply mono PERC modules this year and into early 2021 to the Asia-Pacific joint venture established by the AC Energy power company ultimately owned by Filipino conglomerate Ayala Corp and by Hong Kong-based UPC Renewables. The JV aims to develop more than 1 GW of renewables generation capacity with an initial focus on India, South Korea and Taiwan.
UPC-AC Energy chief executive Pranab Kumar Sarmah said: “Our joint venture sets out to finesse the best possible outcomes for all of the stakeholders involved in our projects; from each department in our two respective companies – technical, commercial and legal – to the corresponding departments within our chosen EPC [engineering, procurement and construction] provider and then shaped into contracts with our suppliers. Risen has listened intently to our various and variable requirements and responded to give us a workable, profitable and tailored solution that fulfills our complex requirements.”
Risen was the second-largest PV module supplier to India in the last fiscal year, accounting for around 9.9% of shipments.
The UPC-AC deal follows a 165 MW order for Risen from Indian renewables developer Sprng Energy last month. Those modules will be used for the Anantapur Solar project which will supply power to Andhra Pradesh via energy company NTPC at a price of Rs2.72/kWh.
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