US company First Solar Inc (NASDAQ:FSLR) unveiled plans to build 5,000 MW of solar farms in India by 2019 at the RE-Invest 2015 event in Delhi on Sunday.
Sujoy Ghosh, head of First Solar India, pointed out that the overall commitment depends on many factors, including the stronger enforcement of the Renewable Purchase Obligation (RPO) and the availability of land and adequate power transmission infrastructure.
At the same event, organised by India’s Ministry of New and Renewable Energy (MNRE), US company SunEdison Inc (NYSE:SUNE) committed to install 15.2 GW of renewable power capacity in the Asian country by 2022. The majority will be solar parks but there will also be wind projects.
First Solar already has project in India. In October it was announced that the US vertically integrated solar company has made the lowest bid of INR 5.25 (USD 0.084/EUR 0.074) per kWh in Andhra Pradesh state’s tender for 500 MW of solar capacity. It is also building parks in Telangana. First Solar has installed more than 10 GW globally.