REC Group has secured orders for 45MW of solar modules to be installed at rooftop PV projects under the RESCO rooftop model in India, where the developer leases the rooftop system to the rooftop owner.
The orders from Indian companies Cleanmax Solar (16MW rooftop), Fourth Partner Energy (22MW open access) and SunSource (7MW rooftop) all came in June and July.
Nearly 40MW of the modules supplied will be REC’s TwinPeak 2S 72 Series, which include half-cut PERC cells and a twin-panel design that the company claims performs better under shaded conditions.
Rohit Kumar, head of India Subcontinent for REC, told PV Tech that out of 145MW supplied to India last year by REC Group, 60MW was in the rooftop space and 85MW in ground-mount. This year the company will have supplied 100MW by the end of the September out of which 70MW will be for rooftop projects.
Kumar added: "This year the sales are shifting towards rooftop so far, but all it takes is one utility to shift the balance and that changes quarter to quarter."
Nonetheless he noted that the RESCO model is coming more into consideration in India, with the larger players signing more PPAs.
"The Indian market today is highly fragmented," he added. "There's hundreds of players but consolidation is primarily happening at the RESCO level with Fourth Partner, CleanMax and another couple of companies leading the way."
REC Group has headquarters in Norway and operational headquarters in Singapore.
The 6th Annual Solar & Storage Finance Asia conference will bring together policy makers, developers, financers and investors from across the region to discuss how we mobilise investment in tomorrow’s projects and overcome some of the challenges slowing us down. Don’t miss out, join the conversation and help us in our goal of driving forward large-scale renewable Solar & Storage projects across Asia.