Seven different solar companies are currently courting solar opportunities in the western Indian state of Gujarat. Each company is hoping to set up solar PV equipment manufacturing plants in the state. Companies such as Moser Baer, Solar Semiconductors, Lanco Solar, as well as others have entered negotiations with local government after it was announced that up to 716 MW of solar plants would be approved.
Known companies to have expressed interest are: Lanco Solar, Moser Baer, PLG Power, Solar Semiconductor, Sunkon Energy, Top Sun Energy, and Waree Energies. If approved, each proposed solar facility could potentially raise funds of up to Rs 500 crore and Rs 1,000 crore, roughly $102.5 million to $205 million.
This is linked to the Gujarat government announcing aggressive new plans to increase solar facilities in the area. Last month, the has government approved 34 separate solar projects which would total nearly 3 percent of the state’s overall power requirements. The state is even considering setting aside a special economic zone (SEZ) for the solar panel companies.