SunBorne Energy, a solar power developer, has joined
hands with UK-based IPP Eoxis Energy for executing
the 15-mw solar photovoltaic project being built in
Gujarat. This is Eoxis' first investment in India and
demonstrates its strong commitment to the country. Eoxis
has ambitious plans to reach 300 mw of installed capacity
in the next three years and intends to make several further
investments in wind and solar generation plants.
The Gujarat solar project
is expected to be
operational by December
2011 and falls under the
solar programme of Gujarat
that provides a stable and
favourable business
environment for the
development of renewable
energy generation facilities.
India has just commenced
on an ambitious solar power development programme and
one of the key success criteria for developers is to be able to
attract equity from both Indian and global investors.
In a release, Laurence Mulliez, CEO, Eoxis, said this
investment allowed Eoxis to become a significant player in
the nascent but fast-growing Indian solar sector. "We
believe that central and local governments in India are
willing to continue to provide support for the development
of this sector and that experienced operators like Eoxis are
well placed to play an active role in the development of the
industry," he noted.