Recently, we had talked about the possibility of Japan-based companies entering the Indian solar market to tap into the potential of solar energy-rich nation. The first participation comes from Mizuho, which has decided to build solar power plant in the country and lead group of other Japanese companies in process, according to Bloomberg report.
The said solar power plant will be set-up in the Gujarat region, which has already seen active participation in solar energy from French, German companies. The power plant will be capable of generating around 200 MW capacity of solar power and the estimated cost to set up the unit will be around 30 billion yen ($325 million) as per Masako Shiono, a company spokeswoman.
The solar plant to be set-up falls in the MoU signed between Mizuho and Gujarat’s government in January, she reportedly said.The recent interest comes after the government is adopting policies like low tax-rates and cheap raw materials, which has encouraged gobal firms to invest in the solar future of the country.
The country is looking to improve its power shortage situation and make use of solar to meet the power demand. According to draft policy released in December, the country is targeting 9,000 MW of grid-connected solar plants by 2017.
The report also talks about Kyocera Corp could supply solar panels to the Mizuho project. Apart from Kyocera other companies are also considering taking part, according to Shiono, who added that the plant’s capacity may be expanded to 2,200 MW.
Recently we had reported about major companies like Sharp, Kyocera, Toshiba and Kawasaki Heavy Machinery looking to enter the Indian solar market and join hands with domestic solar manufacturers.
