01 February 2013 06:19 [Source: ICIS news]
SINGAPORE (ICIS)--Norway’s Renewable Energy Corporation (REC) announced on Thursday that it is supplying high-performance solar panels for two 5MW solar power plants in the Indian state of Gujarat, also known as the solar energy hub.
REC provided 21,520 of its REC Peak Energy solar panels to the project developer Euro Solar Power Private Limited and an additional 20,480 solar panels to Aatash Power Private Limited, REC said in a statement.
Each of the two solar power plants covers an area of 8.1 hectares (20.0 acres) and produces 8m kWh of clean, green energy each year, the company said.
“Renewable energy, especially solar electricity solutions, are needed to power India’s future because solar energy is available when needed – during peak hours,” said Luc Graré, Senior Vice President, Solar Sales and Marketing of REC.
Additionally, the Indian government has outlined its strategy to install 10 gigawatts (GW) by 2017 through mostly utility-scale projects. REC expects a strong growth in the region of 1.6-1.8 GW in the Indian market for 2013; about 30 percent from market segments based on grid parity, such as “diesel replacement”, the company added.
REC’s Peak Energy solar panels have an industry leading energy payback time of one year.
REC is the largest European supplier of solar panels.
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