ReneSola, a technology provider of solar photovoltaic products, will provide 5.4 megawatts (MW) in solar modules to Welspun Energy Pvt. Ltd., a New Delhi-based engineering, procurement and construction (EPC) firm, for a utility-scale project in India.
Under the terms of the agreement, ReneSola will provide 240W and 245W versions of its Virtus II solar PV modules, which were manufactured at the company’s India-based OEM facilities, which satisfies the project’s domestic content requirements (DCR)
India’s DCRs call for certain solar projects to incorporate locally manufactured components. The companies hope to expand the project, which is subject to regulatory allocation by India’s National Solar Mission.
ReneSola’s global OEM capacity of more than 1.1 gigawatts (GW) allows it to respond quickly to client demand and to shifting trade policies across the major solar markets. India is one of ReneSola’s seven OEM locations around the world.
“We see high growth potential in [India's] DCR market,” says Xianshou Li, ReneSola’s CEO. “Moreover, we look forward to working with Welspun Energy, an experienced and fast-growing EPC, to help India reach its green energy goals.”