Swiss Company Meyer Burger Eyes Billion-Dollar Solar Power Market In India
Switzerland-based Meyer Burger is looking to tap opportunities in solar energy worth billions of dollars in India. The company is a solutions provider to manufacturers of solar cells and solar photovoltaic modules. Meyer Burger hopes to capture business opportunities that would emerge from the planned addition of thousands of gigawatts of solar power capacity.
Prime Minister Narendra Modi has asked his government to dramatically increase the planned solar power capacity additions in the country. From an initial target to install 22 GW capacity by 2022, the Ministry of New & Renewable Energy now plans to add 100 GWcapacity over the next few years. This will include 25 ultra mega solar power projects, each with a minimum installed capacity of 500 MW.
Modi has also launched the “Make In India” program wherein his government will provide assistance and incentives to international companies to set up manufacturing facilities in India. Manufacturing of solar power equipment is also a major area of thrust under this program as the government hopes to further reduce the cost of solar power in the face of increasing dependence on fossil fuels and power demand.
A number of the planned ultra mega solar power projects may be implemented by state-owned companies which would be required to use domestically manufactured equipment. Some of these companies are planning to set up solar cell and module manufacturing facilities as well. This is where Burger Meyer may find its market.