Enfinity and Titan Energy Systems to Develop, Finance and Construct 1 GWp of PV Installations in Andhra Pradesh, India

HYDERABAD, India, November 10 /PRNewswire/ -- Enfinity, a global renewable energy developer, and Titan Energy Systems, a manufacturer of PV modules, today announced their collaboration on developing, financing and constructing 1 GWp of PV installations on 3000 acres of land in Andhra Pradesh in the coming 5 years.

Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC - a Government of Andhra Pradesh undertaking) will allocate, in long lease, 3000 acres of land in the villages of Thumalla, Dademavaripalli, Pulikuntapalli, Karimireddypalli and Lokogipalli, and at the industrial park of Amadugur near Kadiri, all in Anantapur District in the state Andhra Pradesh.

Enfinity will develop and finance this project while Titan Energy Systems will act as a contractor and supplier of the PV Modules. Enfinity and Titan will for this purpose establish an SPV (Special Purpose Vehicle).

"This collaboration is of major strategic importance in the development of our activities in high potential PV market in India", said Gino Van Neer, Founder of Enfinity and CEO of Enfinity Asia.

"Receiving the allotment letter for 1GWp solar power plant from APIIC is a testimony of Titan's ability and competency in establishing large utility scale solar power plants. Our SPV with Enfinity would be the right vehicle in implementing such large projects", commented Sankar Rao, Managing Director of Titan Energy Systems.

National Solar Mission shows huge PV potential

Further to India's National Action Plan of Climate Change dated June 30, 2008 a National Solar Plan is expected to come into force in November 2009. By the plan India is preparing to elbow its way toward the head of the solar class. The government has set a solar goal of 20GW by 2020, 100GW by 2030 and 200GW by 2050.

The country's rapidly rising primary energy and electricity needs, the persistent energy deficit situation, the country's overdependence on coal for electricity generation and the exceptional irradiation with most parts of the country enjoying 300 sunny days a year, make PV particularly attractive to the country's energy strategy.

SOURCE Enfinity