PROINSO Enters Indian Market with Two Solar Accords

PROINSO, a Spanish company devoted to the distribution of fixed structures, solar trackers, inverters and modules needed for solar installations, declared that it has contracted two accords for solar power generation projects valued around 33 MW in India.

The signed accord will require the company to complete four installations two each in Gujarat 1 & 2 (5 MW and 20 MW) and Maharashtra 2 & 3 (4 MW x 2).

Earlier in June 2011, the company has signed an accord for Maharashtra 1 project for 2 MW power generation. Along with the currently signed agreements that the company currently handles solar projects worth 35 MW in India are achieved. Material supply for all the projects is expected to commence shortly and the projects are anticipated to be finished by December 2011. The signed accord affirms the entry of PROINSO in the Indian solar PV market and may as well attract other companies to it that are looking forward to developing EPC projects in the country.

PROINSO and MECASOLAR, the solar tracker producing companies belonging to the Grupo OPDE are preparing to enter the Indian solar market and have plans to open their office in India before the end of the current year. The Indian solar market is projected to achieve 10,000 MW solar installations by the year 2020. PROINSO had earlier participated in a reverse trade mission coordinated by SECARTYS and SOLARTYS in partnership with the Solar Society India and Teresa Solbes Commercial Economic Adviser for the Spanish Embassy in May 2010.

Indian companies participated in the mission along with the Honourable Minister of New and Renewable Energy Government of India, Dr. Farooq Abdullah. The Minister presented the OPDE Group with investment opportunities available in India within the National Solar Program and the support that will be provided to the companies that invest in the program. PROINSO further consolidated its business relationships with leading PV industries in India through its involvement in a direct trade mission to India in April 2011 by the Spanish Association for Internationalization and Innovation of Solar Companies.