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28 Aug '12, 2pm

Indian Solar Panel Manufacturer Set to Double Panel Output

Indian Solar Panel Manufacturer Set to Double Panel Output

The company, based in the southern city of Hyderabad, plans to increase output of panels to 30 megawatts this year and invest 250 million rupees ($4.5 million) in a solar cell plant, Managing Director Narender Surana said in an interview. Rising demand for alternative energy driven by coal supply bottlenecks and blackouts may help reverse a slide in revenue, he said. Surana is counting on one of the fastest-growing solar markets where larger local rivals including Moser Baer India Ltd., the country’s biggest maker, and Indosolar Ltd. are struggling to cope with the crash in prices. Prime Minister Manmohan Singh’s government seeks to turn India into a global hub with rules to help almost triple manufacturing capacity to 5 gigawatts by 2020. “The shortage in coal supply is a great opportunity for us as more and more people are looking at solar energy as a viable alternative,...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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