India plans to add solar-equipment manufacturing capacity at a new park in Andhra Pradesh state, saying demand from plants under construction will help the industry recover from a glut of panels.
Solar Energy Corp. of India, the state-run company spearheading the industry’s development, signed an agreement with Andhra Pradesh Industrial Infrastructure Corp. for a solar park in the state that will have 1,000 megawatts of power capacity, as well as factories to produce modules and cells, Rajendra Nimje, managing director of SECI, said in an interview.
The plans come as panel prices appear to be bottoming out after falling more than 60 percent in two years amid a global supply glut. Local manufacturers, such as Indosolar Ltd. (ISLR), Moser Baer India Ltd. and Websol Energy System (WESL) Ltd., who idled about half of their 1,000 megawatts of production capacity, will get fresh orders as new projects are built, Nimje said.
via India Plans to Manufacture Equipment at Solar Park as Glut Eases – Businessweek.
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