As an investor from a matured solar market in the West looking at India, Jonathan Selwyn, chairman of the UK retail investor-backed Downing Indian Solar EIS, discusses the experience of investing in Indian solar.
UK investor Downing, working with its investment partner Armstrong Energy Global, has developed and constructed 20MW of ‘open access’ solar projects in the South Indian states of Telangana and Andhra Pradesh.
For the most part, it will take some years for solar-plus-storage in the ASEAN region to become economically viable on a large scale, but panellists at the opening day of Solar and Off-Grid Renewables Southeast Asia event in Bangkok, have warned that investors who come on board quickest are going to gain a huge advantage.
Thai energy and waste management firm Padaeng Industry (PDI) has acquired a portfolio of six operational solar PV farms in Thailand with a combined capacity of 30MW from Armstrong Asset Management and Dragon Capital for a total of THB1.3 billion (US$39 million).
US-based solar firm Ahana Renewables, a subsidiary of investment firm Atlantic Tele-Network (ATN), has purchased the development business of India-based PV company Armstrong Energy Global in order to develop 250-350MW of solar projects in Southern India by 2018.