First Solar signs 100MW supply deal with India's Reliance Power.
Upon the US Export-Import Bank approving a US$84.2 million direct loan last month to Reliance Power’s Dahanu Solar Power unit, the company was able to secure an agreement with First Solar for the delivery of 100MW of solar modules. Under the supply contract, First Solar will deliver 40MW of its thin-film modules to Reliance Power by the end of the year, with the remaining 60MW delivered in 2012. The solar modules will be used for Reliance Power’s Jaisalmer solar project, which will supply solar electricity to Mumbai. The companies claim that this is the largest PV module supply agreement in India to date.
Jim Brown, president of First Solar’s Utility Systems Business Group commented, “With strong growth projections, India is expected to become one of the world’s major solar markets, due to its abundant solar resource and significant energy demand. This agreement with Reliance Power continues First Solar’s momentum in India, helping develop the country’s long-term, sustainable solar market.”