Chinese solar photovoltaic manufacturer ZNSHINE Solar has nailed a 300 MW photovoltaic module supply agreement with India renewable energy developer ACME Cleantech Solutions Private Limited, responding to growing market demand in India.
This is another multinational agreement reached since the last year’s cooperation between ZNSHINE Solar and several well-known Indian companies, said Lily Q. Lee, Sales president of the company.
Znshine Solar will provide ACME with a variety of photovoltaic power output solutions including graphene-coating PV modules, also known as self-cleaning PV modules, 1500V modules and decentralized junction box, all of which will be shipped in May 2018 and is expected to be delivered by the end of August this year, she said.
(Left: Lily Q. Lee, Sales President of ZNSHINE Solar; Right: Nikhil Dhingra, ACME President)India’s photovoltaic market has prospered and attracted the attention of the global market thanks to the vigorous promotion of the government. According to the International Renewable Energy Agency (IRENA), India’s new solar power generation in 2017 reached 9,628 MW, compared with the 4,251 MW in 2016 and exceeded the markets of North America, Europe and Japan.
While The Indian government aims to build 100 gigawatts of new solar power by 2022 setting to become the second largest solar PV market in 2018, the market potential is huge, says IHS Markit.
Josefin Berg, an analyst at IHS Markit said they expect to see 11 GW in India this year, while the U.S. should install 10 GW. In the face of this huge market opportunity and relatively favorable government taxation, Chinese companies are competing to invest in India’s PV market with many Chinese PV companies, including ZNSHINE Solar, LONGi Solar and Trina Solar have all invested in the Indian market in recent years.
India is already China’s biggest export market for solar products by sales value. During 2017, China’s exports accounted for 24.1% of India’s solar products, with sales growth seen in both cells and modules.
According to Li, India is a major overseas market that ZNSHINE is looking to expand. In the second half of 2017 alone, the company has signed orders with morethan 800 MW with companies including OPG、 Aditya、 Hindustan、Harsha Abakus、ACME.
The cooperation with ACME, the biggest independent power generation company in India, is a win-win as we can provide them with the most advanced photovoltaic manufacturing technology and professional service from China, ensuring a professional technological support for the country’s photovoltaic power stations, said Li.
“At the same time, this will also inject new momentum for us to further explore the Indian market.” As one of the world’s largest power plant developers and module manufacturers, ZNSHINE Solar has been actively deploying overseas markets. The company currently sees its PV projects in Japan, Europe, the Middle East, Southeast Asia, and other countries.
With its power station seeing an annual capacity of 1.1 GW, the company boasts module output of 2 GW each year and completes more than 5GW of power plant construction worldwide.
The Indian government said earlier it was considering a 70 percent import tax against Chinese PV manufacturers which see cheaper cost. However, developers warn that posing import duty to Chinese manufacturers could halt the fast-expanding industry in its tracks and increase the cost of all solar installation despite the protection of only a few Indian manufacturers.
In addition to India, which sees trade disputes surrounding the manufacture of solar panels, the EU has imposed anti-dumping tariffs on Chinese solar panels in 2013, before which the US imposed duties of up to 165 per cent on imports from China saying panels were being sold too cheaply to the US market.
The situation has driven many Chinese manufacturers to the Indian market, with exports increased more than 1,100 per cent between 2012 and 2016.According to Wang Dong, technical and quality general manager of ZNSHINE Solar, the key for continuous success in the solar power sector lies in manufacturing innovation and technology.Seeding a next generation of technology, identifying promising technology and scaling it up is the essence, he said.
Jointly developed with the University of Science and Technology of China, the company has come up with a series of independently developed graphene-coating photovoltaic modules, which allow light to pass through more easily and thus convert more light to electricity.
Founded in 1988，Znshine Solar now sees its module output of 2 GW each year and completes more than 5GW of power plant construction worldwide so far.As one of the biggest solar farm developers and pv module manufactures, Znshine Solar has been actively expanding market overseas, with pv projects scattered across the globe including Japan, Europe, Middle East and Southeast Asia.
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