India-based renewable power developer KSK Energy Ventures has announced the commissioning of an 11.6MW solar photovoltaic project in the state of Rajasthan.
The new project located in Bikaner district’s Gurha village is part of the company’s plan to install 100 MW of solar power facilities by 2014.
KSK forged a partnership with solar panels manufacturer MiaSole to develop the project under the Jawaharlal Nehru National Solar Mission in the country.
As a part of partnership, MiaSole facilitated the copper indium gallium selenide (CIGS) thin-film photovoltaic solar panels for the project.
Commenting on the alliance MiaSole CEO John Carrington said that the company is pleased to collaborate with KSK to explore the clean energy resources in the state; and added that the country has a high potential for renewable energy.
"In 2013, we will expand our global footprint and our business model to invest in projects, acquire project pipeline and partner with leading developers and EPC companies in sustainable markets like India," revealed Carrington.
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By GlobalDataThe company has, meanwhile, secured a $9m debt from US Export-Import Bank to finance the largest solar project in the state.
The financing is the second credit facility provided by the bank to MiaSole for its Indian projects; with the company completing similar projects in the states of Rajasthan, Gujarat, Maharashtra and Tamil Nadu.
"Ex-Im Bank’s support of MiaSole’s technology lowers the cost of project financing, and will expand the deployment of our California-made solar modules in projects globally," added Carrington.
MiaSole is planning to hire an additional 200 employees to further its manufacturing, research and development and commercial activities in California, US.
US Export-Import Bank chairman Hochberg noted, "This project financing facilitates exports from MiaSole’s California manufacturing center, will boost California’s economy and help to create hundreds of local jobs."
KSK is also developing a 3600MW coal based plant in the Indian state of Chhattisgarh, the first unit of which is expected to get commissioned by April 2013.
