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INDUSTRY OVERVIEW

A fast developing sector in India, the solar energy industry is a popular terminus for foreign direct investments. As the name suggests, in solar energy, heat from the sun is harnessed using a range of technologies. This important source of renewable energy finds great potential in India with the country having the lowest capital cost per MW globally to install the solar power plants.

In 2019, India ranked fourth as the most attractive renewable energy market in the world. The country also has the 5th largest capacity of solar power in the world.

ABOUT THE COMPANY

The company came to us with a baseline structure of an ambitious project to be set up in South India. The project revolved around the construction of a solar farm with the ability to power several large office and university set-ups including surplus storage.

SPECIFICATIONS
  • The solar power plant company had allotted an area of around 500 acres for the project.
  • The area consisted of a small water body and the plan was to include a PV array system, power conversion system, transformers, invertor system, plant controller, and substation.
  • A 1MW solar plant in India doesn’t normally exceed 5-6 acres. The surplus land was to be used for upgradation and expansion.
  • The total cost for the installation of the solar power plant was subject to change, but the company gave us an estimated cost of USD 130 million.
OUR INVOLVEMENT

The company came to us with a blueprint and a clear idea. However, they were lacking a concrete plan to direct their solar power plan project towards foreign investors. They also had little idea about foreign direct investment and its entry routes. 

As is first with every project we accept, we thoroughly researched the plan to deduce the foreign direct investment availability. We mapped the entry routes and any complications the project may face in the future. The challenge for us was to guide the entire project through the lengthy process of foreign direct investment without incurring major difficulties.

We connected the company with interested foreign investors, and hereafter, the project commenced.

CURRENT SCENARIO
  • The fully functioning plant produces 120 MV.
  • The solar power plant functions for 5 hours on a daily basis, almost all year round.
  • The total project cost came to be higher than the amount initially stated but foreign direct investment equity inflows made it relatively easier.