Sungrow already has 100MW of inverters installed in India and has a local office as of July 2015. Credit: Sungrow
Major PV inverter manufacturer Sungrow Power Supply is confident that India’s solar market will continue its strong progress, despite recent concerns about certain project PV developers struggling to close financing.
Sungrow today announced it has received running certificates from developer IBC Solar India for inverters at two projects in the state of Rajasthan, of 5.5MW and 11.7MW capacity.
Luke Lu, director of India business at Sungrow, told PV Tech that India’s power deficit is huge and its government is encouraging development of all kinds of renewable energy in the country, hence the company is focusing on India.
When asked if the firm was concerned about reports that developers, who have put in extremely competitive bids for solar capacity in India - often less than INR5/kWh (US$0.075) - are struggling to get financing, Lu said: “Our confidence is in the Indian market, not just in certain customers.
“The entire market is there. No matter who is doing well and who has some trouble, this will not affect the entire market.”
He said delays are possible due to weather events and financial reasons, but the Indian market continues to move rapidly.
Lu said prime minster Narendra Modi’s solar ambitions had given Sungrow “more confidence and courage” hence the firm opened a local office in India in July 2015. Sungrow already has 100MW of installation in India, made up of 80MW of central inverters and the rest from string inverters.
Lu added: “We are confident we will have a better and better market share in India.”
If you are looking to invest in or develop solar projects in India, join us on the 7th of June in London at Solar Finance & Investment: India, a conference designed to bring together European and North American investors and developers looking into the Indian market, as well companies with consolidated presence that are exploring new partnerships.