NEXTracker, Inc. and PES Engineers Private Limited (PES) jointly announced today that the two companies have entered into a 400MW multi-year supply agreement for the Indian market. Over the next three years, NEXTracker and PES will deliver trackers and installation services to major construction projects throughout the subcontinent. The first project under the agreement will ship next month to central India.
"PES is delighted to be partnering with NEXTracker as a key component of our solar strategy," said Vasudeva Prasad, Managing Director of PES. "After reviewing favorable 3rd party evaluations of NEXTracker's technology, we found the self-powered tracker to be ideal for maximizing the energy production potential of solar sites throughout India. Its independent row architecture and self-powered design will help us deploy more photovoltaics to a wider variety of sites in less time – for less cost. We will also benefit from NEXTracker's core competencies including system design, commissioning, and O&M support."
"PES is a highly experienced, visionary EPC with a 23GW track record of delivering incredibly complex power engineering projects. They have shown consistent leadership in adopting next generation technologies," noted NEXTracker CEO Dan Shugar. "We're excited to partner with PES to jointly help developers maximize the profitability of solar power projects. India has the potential to be one of the world's largest solar markets and we are thrilled to be expanding our presence there."
"The industry has grown almost 100 times in the last five years to 3,500 MW and the government has set a target of 100,000MW by 2022," states Sneha Shah, Editor-in-Chief of Greenworldinvestor and frequent contributor to financial press covering energy, economics and the Indian market. Factors contributing to this increasing demand for solar power in this region include favorable government policies, a large power deficit and high solar radiation.