“We don’t want to depend on only one kind of fuel. Last year, the prices in solar were high and we didn’t want to do subsidy-driven business as it is not sustainable. We’re waiting for tenders related to National Solar Mission now and hope to be in the 1,500-2,000 MW range over the next 5-7 years,“ Vikram Kailas, MD at Mytrah Energy, told ET.
The company intends to install nearly 100 MW of solar energy projects over the next one year, he added. Similarly , the Indian subsidiary of Spanish wind turbine maker Gamesa, which has the largest wind energy market-share in the country, is also diversifying into solar power this year with plans to install 100 MW going up to 500 MW in the next two years.
“I have a target of 100 MW of solar EPC, rooftop installation and village electrification this year but we might exceed this as we’re talking to both domestic and foreign developers who are talking to us for large solar power plants and we’re giving them turnkey solutions. We’ll also venture into off grid with net metering,“ said Gamesa India CMD Ramesh Kymal.
Solar energy , said Kymal, is the way forward for India in the long term as the country has more sunshine than wind. Wind turbine maker Suzlon, meanwhile, plans a hybrid model of wind and solar energy , whereby solar plants will be set up on the same land as wind turbines.This is intended to save the company from land issues and overcome power evacuation hurdles as grid is available near wind farms. Its target is to install 500 mw over the next years.