China-based integrated PV manufacturer Zhongli Talesun has won a major module supply deal with India-based project developer ACME Cleantech Solutions totalling 222MW.
The supply deal was signed after ACME Cleantech's JV partner, French utility EDF, had undertaken an inspection of the manufacturer's operations. Shipments were said to have started in September, 2015 and are expected to be completed in February 2016.
However, the new deal with ACME Cleantech looks like being replaced by a module supply deal more than double the initial deal in 2016.
Manoj Kumar Upadhyay, chairman of ACME said: “This is the first year we cooperate with Zhongli Talesun. We are delighted to further deepen our relationship with Zhongli Talesun on these projects in India. ACME had delivered many successful projects in the past. Looking into the future, we are also very optimistic about India's solar prospects and are expediting our paces [sic] to expand our project portfolio. We have strong faith in Zhongli Talesun’s dedicated team, comprehensive products and superior product quality and look forward to have 500MW of the follow-up order in year 2016.”
Zhongli Talesun recently reported first half 2015 operating income of approximately US$520.7 million and a net loss of around US$33.5 million.
The manufacturer has been accruing losses as it builds its downstream PV project business with a pipeline of over 1,000MW and over 630MW in various stages of construction.
Zhongli Talesun is also teaming in China with Huawei on providing a PV plant Internet-based remote monitoring system, capable of handing more than 2GW of PV capacity.
The company is also building a 500MW integrated solar cell and module assembly plant in Thailand. Zhongli Talesun highlighted in its half year financial report that it had completed the main construction of the facility and was entering the equipment commissioning phase. Volume production is expected to start before the end of the year.
Zhongli Talesun has a claimed 1.5GW of solar cell and 2.5GW of PV module capacity.
“We are seeing a significant pick up in the adoption of solar power in India this year and we are delighted to be taking part in the growth with our efficient and high-quality modules,” said William Sheng, marketing & sales VP, Zhongli Talesun. “India is no doubt a robust and growing emerging market for solar energy. We believe this agreement not only demonstrates our growing brand awareness in India, but also sets a solid foundation for our expanding business in the region in 2015. We look forward to capturing more market opportunities in India with ACME.”