HOME > BUSINESS > Rolta inks deal with China’s Zhenfa New Energy, to set up 2 GW of solar power capacity

Rolta inks deal with China’s Zhenfa New Energy, to set up 2 GW of solar power capacity

solarRolta Power Pvt. Ltd. and China-based Zhenfa New Energy Science and Technology Co. Ltd. has signed an agreement to build solar parks in India, targeting a capacity of 2 GigaWatt by 2020.

“As per the MoU, the partnership enables us to share our revenue with Zhenfa, a win-win scenario for both the companies,” said, Dr. Aditya K Singh, Managing Director, Rolta Power Pvt. Ltd. He further commented, “With our 2020 vision, we believe that through this partnership we can together install at least 2GW by the year 2020 and generate revenues of approximately USD 2.03 Bn. or about Rs. 13,100 crores”.

China is the world’s leader in manufacturing solar cells and panels. Chinese companies have been exporting to western countries like the US and Europe. However, due to regulatory changes and market dynamics, demand in places like the US has slackened, forcing them to look at countries like India.

India has had a ‘Solar Mission’ for the last five years under which the government plans to increase India’s installed solar power base to 100 GW by 2022.

“We have been exploring the Indian market for some time,” said Zhenfa’s chairman, Zhenfa Zha. “We will bring our extensive EPC skills and advanced technologies to construct utility scale solar stations, supplying electricity to millions of consumers in India and play an essential and responsible role to help alleviate the severe shortage of power supply and improve the ecology.”

Zhenfa New Energy Science and Technology Co Ltd is a part of the Jiangsu Zhenfa Holding Group Co., Ltd, which was set up in 2004 with headquarter in Wuxi, China.

Its focus on mega solar projects in the middle kingdom has propelled it to the No. 1 EPC and No. 4 project developer spots in China solar industry in the year 2014. Cumulatively, there are 3000 MW of completed and building-in-progress PV power plant – 1.3GW is self-invested and developed – accounting for 10% of the PV market in China.

Rolta Power Pvt. Ltd. is part of the more-than-three-decades-old Rolta Group business interests in Real estate, investments and IT. Rolta Power is headquartered in Mumbai and is a new entrant in the Rolta Group fully owned by Rolta Pvt. Ltd.

Follow ULTRA.news
Boosted by Jio’s success, Mukesh Ambani unveils his future plans Mukesh Ambani, India's richest man, said telecom was the first of his big bet, and he will now use his resources to solve problems in three other difficult areas -- agriculture, education and healthcare.Speaking at the HT Leadership Summit, Ambani said his primary motivation...
India to see 6 GW of wind power auctioned in 5 months Inox Wind Limited, the most aggressive player in bidding for new wind power projects, said it expects almost 6 GW of new wind power projects to be auctioned in India over the next five months.In comparison, the country added 5.4 GW of wind power capacity on the ground in the...
No salvation in sight for gas-based power plants – India Ratings India Ratings, a Fitch company, said it sees no chance for a revival in the fortunes of natural gas-based power generation plants in India.The country saw the setting up of several such plants, especially in Andhra Pradesh, at the turn of the century on expectations of a gas...
Reliance Capital to get Rs 300 cr from IREDA for lending to renewable sector Anil Ambani Group's Reliance Capital Indian Renewable Energy Development Agency Limited (IREDA) will make available Rs 300 cr for lending to renewable energy and energy efficiency projects.IREDA is a Government of India Enterprise under the administrative control of Ministr...
Adani Enterprises to demerge and list solar business Adani Enterprises Limited said it will demerge Adani Green Energy Ltd by cancelling the shares it holds in the subsidiary and issuing new shares directly to the shareholders of the parent company.Shareholders will get 761 shares of the new company for every 1,000 shares they...
Inox Wind eyes large share of upcoming wind power projects Inox Wind Limited, which manufacturers wind turbines and constructs wind power farms, said it intends to put up a 250 MW wind farm in Kutch in Gujarat in the next 12 months and will continue to bid aggressively in upcoming auctions.Inox Wind had won the project as part of th...
South India still water-stressed despite decent monsoon Despite a decent monsoon season, water levels at storage facilities in India continues to be below those of last year as well as the 10-year average.Of particular concern is the situation in South India, only 39% of the total capacity of the reservoirs has been filled so far...
Solar Power is a life saver in Chhattisgarh – Survey The solar energy revolution may be all about saving the environment, but for the Indian state of Chhattisgarh, it's impact is more immediate, and life-saving.According to a first-of-its-kind study conducted on primary health centers in the state, PHCs with solar backup admit...
Tata Power renewable generation up four times last year Tata Power said it generated more four times as much power from renewable sources like solar and wind in the financial year ended March, compared to the year before.This was achieved partly due to an acquisition.During the year, its renewable arm Tata Power Renewable En...
India achieves only 14% of rooftop solar power target Even as India more or less sticks to the target on adding large solar farms under its ambitious Solar Mission project, the other leg of the plan -- rooftop solar -- remains woefully behind target.Under the solar mission, India is supposed to have put in 5,000 megawatt of sola...
SLOW START: India adds 8.3% of 2017 target solar capacity in three months India added only 827 megawatt of solar power generation capacity in the first three months of the current financial year, indicating a slow start to the yearly program.The addition of the first three months represents only 8.27% of the 10,000 megawatt that it is supposed to c...
Surya introduces 32-watt full-size ceiling fan with BLDC technology Surya Roshni, one of India's oldest electrical brands, said it launched what could be India's most power efficient full-size ceiling fan -- the SS-32.The fan belongs to the new breed of brushless or BLDC fans that use an electronic circuit to convert alternating current into ...
BHEL wins 15 MW solar project, total reaches 180 MW Bharat Heavy Electricals Limited said it got an order from Gujarat Alkalies and Chemical Limited for setting up a 15 MW Solar Photovoltaic power plant in Gujarat on Engineering, Procurement and Construction (EPC) basis.This takes the total solar power generation capacity bein...
IREDA to sell 14 cr shares in IPO to help meet India’s renewable targets The central government has okayed the listing of India's premier renewable energy agency, IREDA, via an initial public offer.Part of IREDA co-financed 202.40 MW Wind Power Project in APThe move will help the non-banking finance company "increase its equity base which wil...
India enters the nuclear power club with new 7.7 GW program Koodankulam Plant built with Russian helpIndia today announced among the biggest civil nuclear programs anywhere in the world, saying it will set up 7,700 MW of indigenously developed nuclear power plans.It is the first time that the country is creating so much capacity ...
NTPC starts 660 MW Solapur Super Thermal Power Project in Maharashtra One of NTPC's thermal plantsNTPC Ltd, India's largest power producer, has taken its total installed production capacity beyond the 51,000 MW mark with the addition of the 660 MW Solapur Super Thermal Power Project in Maharashtra.The total capacity of the NTPC Group has b...
BHEL commissions 800 MW supercritical coal unit in Karnataka The Raichur plantBharat Heavy Electricals Limited (BHEL) commissioned an 800 MW coal-based supercritical thermal unit at the  Yeramarus Thermal Power Station located in Raichur district of Karnataka, the heavy equipment maker said.The plant is a joint venture between BHE...
India is the first country to reuse nuclear waste on large scale – Minister A rally to popularize nuclear power in Mumbai in 2014The Department of Atomic Energy today said that India is the first country in the world where the waste produced by nuclear power plants is being used for civilian applications.Jitendra Singh, the minister of state ove...
Govt not to supply LNG to stranded gas power projects from next month A gas-based power plant owned by Tamil Nadu GovtThe government is not planning to extend the two-year-old scheme to supply subsidized, imported natural gas to stranded gas power projects when it expires this month, according to a senior power ministry official."We got a ...
India to add 34.5 GW of hydroelectric capacity in 10 years A hydro-power plant in Himachal PradeshIndia will set a target of adding 34.5 GW of hydro-power generation capacity in the next ten years, according to power ministry sources."The target for the 13th plan has been set at 13.31 GW and that for the 14th plan will be 21.15 ...